São Paulo – Imports of chemicals to Brazil were up 11.8% to USD 15.6 billion year-to-date through May, the Brazilian Chemical Industry Association (Abiquim) reported.
As a result, the country ran a USD 10.2 billion trade deficit in chemicals, since exports came out to USD 5.4 billion. Whereas imports to Brazil went up, exports of chemicals from Brazil dropped by 2%.
The month of May saw USD 3.5 billion worth of chemicals imported to Brazil, with exports reaching USD 862 million. Import levels were the highest since September 2017, and this is cause for concern in the Brazilian chemical industry, according to Abiquim.
Translated by Gabriel Pomerancblum