Brazil October chemical imports rise 18.5% year on year

26 November 2012 22:11  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Brazil's chemical imports in October increased by 18.5% year on year to $4.3bn (€3.3bn), outstripping the 5.1% increase in exports to $1.3bn, the Brazilian Chemical Industry Association (Abiquim) said on Monday.

Month on month, imports in October increased by 14.3%, while exports rose by 10.2%, Abiquim said.

Brazil's chemical trade deficit from November 2011 to October this year reached $27.7bn, the group said.

Brazil imported a total of $42.9bn of chemicals over this period, an increase of 4.4% compared to the previous twelve months, while exports totalled $15.1bn, down by 3.2%.

Abiquim said that the accumulated trade deficit for 2012 was expected to hit $28bn, the largest deficit figure ever recorded by the trade group.

“The result is due to a deceleration in international demand for chemical products and increased activity in the Brazilian market,” said Denise Mazzaro Naranjo, foreign trade director at Abiquim.

“The increase in the deficit of end use products is particularly worrying,” the executive said.

Fertilizers were the main imported item in the January-October period, with revenues of $6.4bn, down by 8.2% year on year, the group said.

Thermoplastic resins were the main exported item with sales of $1.9bn in January-October, down by 7.8% year on year, Abiquim said.

By: Simon West

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