14 October 2011 01:04 [Source: ICIS news]
SAO PAULO (ICIS)--Brazil's chemical imports rose to $4.0bn (€2.9bn) in September, a 22.9% year-on-year increase, Brazilian chemical trade group Abiquim said on Thursday.
Year to date, imports totalled $31.2bn, 28.6% higher over the same period in 2010.
Exports totalled $1.5bn in September, up 26% year on year , the association said.
Year-to-date exports were up 24.7% year on year at $12bn, Abiquim said.
Brazil’s chemical trade deficit reached $19.3bn year to date, a 31.2% increase over the same period last year.
“Despite the increase in exports, [Brazil’s] chemical products deficit has grown strongly during the last few months, leaving interesting investment opportunities unseen,” said Abiquim foreign commerce director Denise Naranjo in Portuguese.
According to Naranjo, year–to–date imports of fertilizers totalled $6.3bn, nearly twice the sum reported in the same period of 2010. Fertilizers were the main product imported, while the main exports were thermoplastic resins, with sales of $1.9bn from January to September 2011.
($1 = €0.72)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections