Chemical imports keep falling down although the deficit also decreases

Brazilian imports of chemical products totaled US$5 billion in January 2022, up 43.1% from the same month last year, according to the Brazilian Chemical Industry Association (Abiquim).

“This result was mostly attained as a result of the 64% increase in the prices of imported products given that, as opposed to prices, the volume acquired from abroad decreased 13.1% to 3.7 million tons with volume retractions seen in practically all groups of chemicals,” informs Abiquim.

“Exports, on the other hand, generated a revenue worth almost US$ 1.3 billion, reflecting the growth in chemical product sales by 43% compared to January last year. Conversely, compared to December 21, the revenue derived from exports decreased by 20.5%. Considering the volume sent abroad in January 2022, which was a little over 1.2 million tons, the figures indicate a 5.5% retraction compared to January 2021 and a 30.8% decrease from last December. The decrease in the number of sales of inorganic chemicals (-35.5%), organic products (-25.4%) and thermoplastic resins (-8.4%), stood out in the month.”

Given the above scenario, the chemical industry’s trade balance for the first month of 2022 registered a deficit of over US$ 3.7 billion, a new monthly high. In the last 12 months, the deficit hit a new high of $47.2 billion, which is also a record. “Legal security and official public disclosure of customs operations statistics are strategic assets for scenario planning and business, sectoral, and public foreign trade policies.”

That is why “we advocate for the existence of the Special Regime for the Chemical Industry (REIQ), under the terms provided for by law, and the immediate reactivation of SISCORI, a system of statistical data on customs operations that is critical to the private sector’s cooperation with Brazilian customs and other border control agencies for efficient integrated risk management,” concludes the executive president of Abiquim, Ciro Marino.

Source: Agrolink

To read the full original article, please check: https://www.agrolink.com.br/noticias/importacoes-diminuem–mas-deficit-de-quimicos-bate-recorde_462233.html

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