The chemical industry is one of the pillars of the European economy. The industry has been hit hard by the COVID-19 pandemic. The report of the European Chemical Industry Council (CEFIC) provides performance for the chemical industry in the first quarter of 2020, in particular, the dynamics of industrial production, sales of goods, foreign trade.
The national economy recovered steadily, employment and living standards were ensured forcefully, and the main goals and tasks of economic and social development were accomplished better than expectation. GDP was 101,598.6 billion yuan in 2020, an increase of 2.3 percent over last year.