Chemical industry trade balance improves with increased imports to help fight pandemic

The chemical industry trade balance broke a record in March due to imports of products related to coping with the pandemic. They are raw materials for the manufacture of medicines and fertilizers and chlorine, which are essential products in times of health crisis.  According to a foreign trade report by the Brazilian Chemical Industry Association (Abiquim), sector imports hit a record for the month in volume and were the highest for the same period in value since 2014. It recorded imports of 4.2 million tons in March – an increase of 36.1% compared to February. By value, the growth was 10.8%, to US$3.2 billion.

Imports of pharmaceutical active ingredients increased by 27.3% in value to US$234 million, and 10,500 tons by volume.  Chlorine and alkali saw growth of 53.9% to US $ 63.9 million by value, and 56.5% by volume to 423,700 tons.

There was also a rise in imports of inputs considered indispensable for guaranteeing food security, according to Abiquim.  This includes 48.9% growth in the value of imported fertilizers to US$564 million, and 46% by volume to 2.4 million tons.

Imports for the first quarter as a whole rose in volume by 3.2% compared to year-ago levels, reaching more than 10.7 million tons.  “Significant increases were seen in practically all the groups monitored, especially in organic chemicals (23.1 %) and in resins and elastomers (9.6%),” according to Abiquim. The quantities exported during the quarter, of 3.7 million tons, corresponds to a 20.7% increase, mainly composed of calcined alumina.

Source: Valor Econômico

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