22 January 2013 16:58 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Brazil's chemical traded deficit reached $28.1bn (€21.1bn) in 2012, up 6% from $26.5bn in 2011, the trade group said on Tuesday.
It was the nation's largest chemical trade deficit ever, Abiquim said.
Abiquim said imports of chemicals reached $43.0bn, up 1.5% year on year.
Exports of chemicals fell to $14.8bn, down 6.3% year on year, it said.
Imports of intermediates for fertilizers fell 6.1% year on year, at $8.2bn, the trade group said.
Abiquim foreign trade director Denise Naranjo said the rapid increase of the nation's deficit in recent years can be explained, in part, because increased domestic demand for chemical products is being met by imports and by the significant growth of final-use imports.
"The deficit in chemical products observed in 2012 is the biggest one in history, despite the measures the government has been taking to defend the nation's industry," she said.
($1 = €0.75)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections