CNI Survey: US chem trade deficit triples for H1 '03

14 August 2003 17:46  [Source: ICIS news]

HOUSTON (CNI)--The US trade deficit in chemical products nearly tripled in the first half this year with $4.3bn (Euro3.8bn) more imports than exports through June, a CNI survey of latest US government data showed Thursday.

That deficit compares with a deficit of $1.4bn for the same period last year - the first year for a US chemical industry trade deficit, according to CNI's review of data from the US Census Bureau.

The Bureau released its figures for the month of June and a CNI review of those numbers shows that the US chemical industry deficit increased to $573m from just $13m in June 2002.

The growth in the overall chemical deficit occurred despite a first half decline in the deficit for the sector's largest component, organic chemicals. According to CNI's review of the figures, the organic chemical deficit fell 5.4% to $6.8bn through June compared with $7.2bn for the same period last year.

Chemical exports for June rose 9% to $7.7bn but imports increased by 17% to $8.3bn, according to CNI's calculations.

Here's a chart comparing the overall chemical deficits for the first half of this year with the same period last year in millions of US dollars as reported by the Census Bureau and compiled by CNI:

QUARTER	2003	2002	% CHANGE
Jan-Mar	2199	884	149
Apr-June	2097	482	335
Totals	4296	1366	214

By: Gary Taylor
+1 713 525 2653

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