Brazil’s chemical trade deficit increases 6.6% in 2019 to US$31.5 billion

According to Abiquim, the Brazilian Chemical Industry Association, Brazil imported US$44.1 billion in chemical products last year, equivalent to 47.6 million tons.  This is a 2% year-on-year increase in value and 5.4% higher by volume compared with 2018, reaching record import levels according to Abiquim.

Arab countries are significant exporters of fertilizers. According to data from the Arab Brazilian Chamber of Commerce, the Arab block made fertilizer sales of over US$2 billion to the Brazilian market in 2019. By volume this equates to 7 million tons, a 2.7% rise compared with the previous year. Morocco is the largest exporter to Brazil from this region.

Exports

Abiquim reported that Brazilian exports of chemical products were at US$12.6 billion in 2019, an 8.1% drop compared to the previous year. One reason is the difficult economic situation in Argentina – traditionally the main regional market for Brazilian chemicals. This led to a 6.6% increase in the deficit in the chemical trade balance which has been steadily growing over the past four years, reaching US$31.5 billion in 2019.

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