10 February 2012 17:59 [Source: ICIS news]
SAO PAULO (ICIS)--Brazil's chemical imports rose to $3.1bn (€2.3bn) in January, up 16.1% year-on-year, Brazilian chemical trade group Abiquim said on Friday.
However, imports fell 12.4% month on month, Abiquim said.
Exports totalled over $1.1bn in January, up 6.4% year on year and down 11.5% from December, the association said.
In terms of volume, imports reached over 2.5m tonnes in January, down 4.7% year on year, while exports were over 1m tonnes, up 10.3% year on year, Abiquim added.
Thermoplastic resins were the main exported item in January with sales of $201.3m, up 21.4% year on year, the association said.
Fertilizers – the main imported item – totalled $560m in January, up 11.9% compared with the same period of 2011, the association added.
Brazil’s chemical trade deficit reached $2bn in January alone and totalled $26.9bn in the last 12 months to January, according to Abiquim.
The continuous increase in the country’s trade deficit could tend to slow down as the local industry invests to expand domestic production in order to substitute imports and expand exports, Abiquim’s executive president Fernando Figueiredo said.
($1 = €0.75)
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