Brazil’s plastics deficit hits $1bn in 2013

16 July 2013 18:22  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Brazil’s trade deficit in the processed plastics sector hit $1bn in the first five months of 2013, a 14% increase on the prior-year period, the country’s plastics industry association (Abiplast) said on Tuesday.

Exports from January to May remained flat at $565m, while the cost of imports jumped by about 8% from $1.45bn to $1.57bn, the association said.

The average price of exports during the period fell by 4.7% to $5.59/tonne FOB (free on board), while the price of imports rose a percentage point to $5.25/tonne.

Exports to South American trading bloc Mercosur, which accounted for 36% of total exports during the period, rose by 3.6%. Exports to Canada were up by 14.8%. Exports to the EU and the US were down by 9.8% and 4.4%, respectively, Abiplast said.

Imports of processed plastics from Asia, the EU and the US, which accounted for 72% of total imports, increased by 10.4%, 10.1% and 10.0%, respectively.

Meanwhile, Brazil’s production of processed plastics in the January to May period increased by 4.9%, led by the diverse artefact and laminated sectors, which grew by 7.0% and 6.3%, respectively.

Apparent consumption – the sum of production and imports minus exports – stood at Brazilian reais (R) 24.2bn ($10.9bn, €8.4bn), a 6.6% increase from R22.7bn.

Domestic production accounted for 87% of the country’s demand for processed plastics, Abiplast said.

($1 = €0.77, $1 = R2.23)

By: Simon West

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