São Paulo – Brazil imported US$ 4.4 billion worth of chemical products in July, up 7.6% from July last year, according to figures released by the Brazilian Chemical Industry Association (Abiquim). Year-to-date through July, imports amounted to US$ 25.5 billion, down 2.2% from the same period last year. Imported volume was up 7.8% during the period to 21.9 million tonnes, meaning products were imported at lower prices. <\/p>\n
On the other hand, chemicals’ exports from Brazil were up 17.7% in July from July 2013 to US$ 1.5 billion. In July from June 2014, exports were up 24.5%. The year-to-date performance was not as good. Revenues increased by a meagre 0.2% to US$ 8.3 billion.<\/p>\n
As a consequence, Brazil’s trade balance for chemicals ran a US$ 17.2 billion deficit year-to-date through July. The deficit, however, was 3.4% lower than in the same period of 2013, according to Abiquim. The organization has also announced that in the past twelve months, i.e. from August 2013 until July this year, the deficit stands at US$ 31.4 billion.<\/p>\n
“As a result of the delicate economic scenario in some of Brazil’s key trade partners, especially Argentina, and the weak results expected for 2014, we have revised our expected deficit in chemicals trade by the end of 2014 to US$ 31.5 billion,” said Abiquim Foreign Affairs director Denise Naranjo, according to a press release.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n