São Paulo – The Brazilian Chemical Industry Association (Abiquim) reported this Tuesday (23) that imports of chemical products to Brazil amounted to USD 20.4 billion in the first half of the year, up 6.1% year-on-year. H1 saw 20.5 million tons of chemicals imported, up 14.8%. The amount is the second biggest on record, trailing only H1 2017.
Conversely, chemicals exports from Brazil grossed USD 6.3 billion, down 3.6% year-on-year in H1. Shipped volume was 6.6 million tons, down 5.5%. Abiquim said exports were impacted by the reduction from 2% to 0.1% of the Reintegra aliquot. Reintegra is a federal government program that gives tax breaks to exporters of industrialized goods.
The results led to a USD 14.1 billion deficit in foreign trade for Brazil’s chemical industry in H1.
Translated by Gabriel Pomerancblum
