0
Home
News
Directory
E-newsletter
Magazine
Events
Data
AgReport
Subscribe
Chemical products’ import rose by 9% in Brazil till November 2016
Jan. 4, 2017
Chemical products’ import from January to November 2016 rose by nine percent, when compared to the same period of 2015, according to the Brazilian Association of Chemical Industry (Abiquim).
The country purchased 33.6 million tons of chemical products in the first eleven months of the year, after a continuous fall in the industrial gross domestic product during this period.
In terms of value, the country paid a lesser amount for these purchases. Since the global prices of chemical products fell, it spent only US$31.4 billion on these imports, 12.2 percent less than during the same period in 2015, according to Abiquim.
The month of November witnessed import of chemical products reaching US$2.8 billion in Brazil, reflecting an increase of 3.1 percent compared to October this year. However, compared to November 2015, the figure showed a fall of 6.7 percent.
Exports of US$1.1 billion in November were nine percent higher than in October, and 12.2 percent higher than in November, 2015. During the first 11 months of 2016, the external sales reached US$11 billion, 6.8 percent below the level reached during the same period last year. Sales of thermoplastic resin were recorded at US$2.1 billion, thus making it the most exported chemical product till November.
The trade balance deficit in chemical products reached US$20.3 billion, 14.9 percent below the 2015 level. A deficit of US$21.8 billion over the last 12 months was less than the 2010 level when it was US$ 20.6 billion.
The director of the Foreign Trade Issues at Abiquim, Denise Naranjo, said the slowdown in chemical products last year was on account of the national economic crisis which turned out to be even more critical than it was forecast to be. Simultaneously, key global markets saw a fall in the prices of several chemical and petrochemical products.
“Since the total sectoral deficit has fallen, there is no evidence that these levels will be maintained in the coming years. Since 2013, the average per ton price of chemical products acquired by Brazil fell by 25 percent. This was a major factor that impacted the growth in this sector. Once import volumes continued to grow and reached a level equal to the external purchases in 2013, deficit reached a record level of US$32 billion,” highlighted Denise.
Source: AgroNews
More from AgroNews
Change
Hot TopicSubscribe
| Subscribe Email: | * | |
| Name: | ||
| Mobile Number: | ||
Comment
0/1200
NEWSLETTER