Brazil trade gap soars to 71.3% on fert prices

10 June 2008 21:58  [Source: ICIS news]

HOUSTON (ICIS news)--Brazil’s January-May chemical trade gap surged by 71.3% to $7.5bn (€4.8bn) from a year earlier, lifted by soaring fertilizer prices in the international market, industry association Abiquim said on Tuesday.

Fertilizers have a significant weight on Brazil’s chemical imports, Abiquim said, adding that the price of the product in May had more than doubled from one year ago.

Brazil’s total chemical imports in January-May rose by 41.6% to $12.2bn from a year earlier. Fertilizer imports soared by 104% to $2.7bn in the same period, the association said.

On the export side, Brazil in January-May shipped $4.7bn worth of chemicals, an 11% increase from the same months of 2007, Abiquim said.

Thermoplastic resins ranked as the top chemical exported in the year through May, with shipments of $604m, Abiquim said.

($1 = €0.64)

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By: William Lemos
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