Chemicals deficit exceeds $38.2 billion

Data released by ABIQUIM (the Brazilian chemical industry association) indicated that the deficit in chemical products is at a record level and now exceeds US$ 38.2 billion. “In August, US$ 5.8 billion were imported, equivalent to 5.8 million tons purchased by the country in chemical products, now a new monthly record. Brazilian exports of chemical products, in turn, have remained stable, at monthly levels much lower than imports, with average sales of US$ 1.2 billion, related to shipments of 1.3 million tons.

“In the accumulated result for the year up to August, purchases of chemical products from abroad totaled US$ 36.1 billion, a significant increase of 35.9% compared to the same period in 2020. Exports, in turn, reached US$ 8,9 billion, an increase of 21% compared to the value registered between January and August of last year, mainly due to the 15.2% increase in average prices of the main chemical products exported by the country”, he indicates.

See below a history of the cargo movement in the first seven months of the year, since 2017. Data are from DataLiner:

Chemical Imports and Exports | Jan to July 2017-2021 | WTMT

The deficit in the balance of trade in chemical products, up to August, reached US$ 27.2 billion, an appalling 41.7% growth compared to the same period in 2020. “In the last 12 months (September 2020 to August this year), the trade deficit reached the unprecedented mark of US$ 38.2 billion, far surpassing ABIQUIM’s own projections for this indicator for the year and confirming the urgent need for immediate support measures and productive stimulus and a robust industrial policy program and with a focus on competitiveness, so we can provide predictability and legal certainty to the investor”, completes the entity.

Source: Agrolink

To read the full original article, visit the link:

https://www.agrolink.com.br/noticias/deficit-em-produtos-quimicos-ultrapass-us–38-2-bi_456149.html

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