Brazil chemical trade deficit grows by 2.7% in first half of 2012

17 July 2012 17:51  [Source: ICIS news]

SAO PAULO (ICIS)--Brazil’s chemical trade deficit rose by 2.7% for the first half of the year from the same period in 2011 as a result of unfavourable international markets, trade group Abiquim said on Tuesday.

Imports for the first six months of the year totalled $19.4bn (€15.7bn), up 1.9%, while exports reached $7.4bn in the first half, up by 0.8% year on year, for a trade deficit of $12.0bn, Abiquim said.

Fertilizers were the most imported item in January-June with sales of $3.1bn, up 2.7% year over year, according to Abiquim. 

In June alone, imports reached $3.5bn, down 3.7% year on year, but up by 2.5% compared with May.

Exports reached $1.2bn in June, down 5.1% year over year and 7.8% compared with the previous month.

Fertilizers were the main imported item in January-June with sales of $3.1bn, up 2.7% year over year, according to Abiquim.

Abiquim foreign commerce director Denise Mazzaro Naranjo said the numbers for the first half of the year show relative stability in trade, but a closer look indicates Brazil is having a harder time exporting its chemical products.

Naranjo cited trade difficulties with Argentina, Venezuela and Europe.

($1 = €0.81)

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By: Hellen Berger
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