13 July 2009 18:01 [Source: ICIS news]
HOUSTON (ICIS news)--Brazil’s chemical sector trade deficit in the 2009 first half narrowed by 37% from one year earlier to $6.3bn (€4.5bn), as imports fell sharply and surpassed a drop in exports, chemical industry association Abiquim said on Monday.
Brazil’s chemical imports in January-June fell by 30% from one year earlier to $10.9bn, the association said.
By volume, first-half imports plummeted by 43% to 8.1m tonnes, it added.
Abiquim did not give a reason for the drop, and could not be immediately reached for comment.
On the export side, Brazil in January-June shipped $4.6bn worth of chemicals, a 19% drop from the same months of 2008, Abiquim said.
Exports by volume rose 16% to 5.6m tonnes, but Abiquim said a fall in international chemical prices kept exports in the red in financial terms.
Brazil’s chemical sector trade deficit widened to $23bn in 2008, a 76% change when compared with 2007.
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