São Paulo – Brazilian imports of chemical products dropped 55.7% in January this year when compared to the same month in 2008, according to figures disclosed by the Brazilian Chemical Industry Association (Abiquim). The volume was 1.2 million tonnes. In terms of values, the purchases totalled US$ 1.9 billion and the reduction was 23.7%.
The purchases of intermediaries for fertilizers, one of the main products in the import basket, dropped 77.8% in January in terms of volume. Imports, in the first month of this year, totalled 299,000 tonnes. Revenues were US$ 156.2 million.
According to Abiquim, the reduction in imports was due to the lower domestic demand and to credit restrictions in the global market.
Brazilian exports in the sector also dropped. Brazil exported 681,400 tonnes of chemical products in January this year, a reduction of 19% over the same month last year. Revenues totalled US$ 614.7 million, 34.5% less than in January 2008. The sector trade balance deficit was over US$ 1.3 billion.
Thermoplastic resins were the products most bought by Brazil in January, with 114,800 tonnes. In this case, however, there was growth of 32.5% over the same month in 2008. Sales totalled US$ 96.5 million.
*Translated by Mark Ament