Brazil Chemical market slowdown
According to the Brazilian chemical industry association (Abiquim) data show that in the domestic GDP continued to decline after a few months in November 2016, Brazilian chemical products imports increased by 9%. From January to November, the import volume of Brazilian chemical products was 33.6 million tons.
Brazilian imports of chemical products fell 12.2 percent from a year earlier to $ 31.4 billion, according to Abiquim, due to falling prices of global chemical products. November imports of chemical products in Brazil amounted to 2.8 billion US dollars, more than in October increased by 3.1%. But compared with the same period last year, still down 6.7%. Exports, in November the amount of Brazilian chemical exports 1.1 billion US dollars, more than in October increased by 9% over the same period last year, an increase of 12.2%. From January to November 2016, export sales reached US $ 11 billion, down 6.8 percent from the previous year.
Denise Naranjo, head of foreign trade at Abiquim, said the slowdown in the trade in chemical products was due to the more severe economic crisis that Brazil was experiencing across the country. At the same time, the prices of several chemical and petrochemical products in the world’s major markets are falling.
From Agropages report.