Brazilian chemical deficit increases 16.8% year on year - Abiquim

15 March 2013 14:58  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazilian chemical deficit increased 16.8%, year on year during the first two months of 2013, reaching $4.3bn (€3.3bn), the nation's chemical industry association Abiquim said on Friday.

In this period, chemical imports rose 11.4%, year on year, reaching $6.6bn, while exports increased 2.4% in the same period, reaching $2.3bn, it said.

Imports of chemicals reached $3bn in February, down 14.6% in comparison with January 2013, while exports of chemicals fell 9.4%, reaching $1.1bn, Abiquim said.

Intermediate for fertilizers remained as the main item Brazil imported most, reaching $930.4m in the first two months of the year.

Thermoplastic resins was the item Brazil exported most, registering $327.7m in sales in the same period, it said.

However, Brazilian exports of thermoplastic resins fell 10.7% in sales and 18.3% in volume in comparison with the first two months of 2012.

Within the last 12 months, from March 2012 to February 2013, Brazilian chemical deficit reaches $28.8bn, which is the worst result the sector has ever seen, said the association.

"We hope the measures Abiquim has taken at the level of the Chemical Industry Competitiveness Council be urgently adopted, with the aim of stimulating the competitiveness [of the chemical industry] and the retake of investments in local production", said Abiquim's foreign commerce director, Denise Naranjo.

By doing this, the trend of the increasing participation of imports on local demand for chemical products may be reverted, said the Naranjo.

($1 = €0.77)

By: Leo Siqueira
+1 713 525 2600

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