Braskem 1Q exports rise 27% on stronger economy, demand

20 April 2010 19:43  [Source: ICIS news]

SAO PAULO (ICIS news)--Exports by Brazil’s petrochemical giant Braskem totalled $567.5m (€420.0m) in the first quarter, up 99.27% year over year on stronger global demand and pricing, the Foreign Commerce Bureau (Secex) said on Tuesday.

The growth in the first quarter was boosted mainly by stronger international demand for petrochemical products as well as favourable feedstock prices and the overall recovery of the global economy, Secex said.

In March, Braskem exports increased 38.9% year over year, totalling $194.9m.  

For the first quarter, Braskem was the nation's fourth largest exporter, trailing oil giant Petrobras, mining company Vale and aircraft manufacturer Embraer.

Braskem officials were not immediately available for comment. Secex did not release tonnage figures.

($1 = €0.74)

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By: Hellen Berger
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