Brazil’s chemical deficit hits $7.5bn since beginning of 2012

22 May 2012 18:16  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Brazil’s trade deficit in the chemical sector reached $7.5bn (€5.9bn) in the first four months of 2012, up 5.1% year on year, the country’s chemical industry association said on Tuesday.

From January through April, Brazil imported $12.4bn in chemical products, the Brazilian Association of Industrial Chemistry (Abiquim) said. During the same period, $4.9bn worth of chemical products was exported.

“Despite the 5.1% increase in Brazilian chemical exports during the first four months of 2012, exceeding $4.9bn, and the reduction of purchases of important foreign products for importation…the trade deficit in chemicals remains a major concern of the sector in the country,” Denise Mazzaro Naranjo, director of foreign trade for the association, said.

During the first four months of 2012, chemicals accounted for 17.4% of the country’s total imports and 6.5% of the total exports, Abiquim said.

About 8.7m tonnes of chemicals were imported, while 4.6m tonnes were exported, the group said.

In 2011, the trade chemical deficit hit $26.5bn, up 28.3% from 2010.

($1 = R2.05)

($1 = €0.78)

By: Leela Landress
+1 713 525 2653

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