Deficit in chemical products grows 10,2% until August

Despite the still stable economic scenario, marked by the recent strong exchange rate rise, and in the midst of the trade war between the United States and China, which could put the world economy in a scenario of stagnation, imports of chemical products until the end of the year should be record and exceeding US$32 billion.

In the year to date, Brazilian imports of chemical products totaled US$29,2 billion, an increase of 5,7% compared to the same period in 2018. Exports, in turn, reached US$8,5 billion, a reduction of 3,7 .2018% compared to the value recorded between January and August 20,7. The deficit in the trade balance of chemical products, until August, reached US$ 10,2 billion, a considerable increase of XNUMX% in relation to the same period of last year.

 “We are now signaling an intensification of the deficit. In July and August, imports of chemical products were respectively US$4,5 billion and US$4,3 billion, making the two months the most intense in acquisitions from abroad since the same period in 2014, prior to the serious economic crisis experienced. by Brazil, especially in 2015 and 2016. In the last 12 months, from September 2018 to August this year, the trade deficit reached the mark of US$31,5 billion”, explains the director of Foreign Trade Affairs at the Brazilian Association of Chemical Industry – Abiquim, Denise Naranjo.

From January to August, the volume of imports was 29,8 million tons, an increase of 11,3% compared to the same period last year. This growth is due to the acceleration of fertilizer acquisitions, a fact consistent with the projections of the National Supply Company – CONAB, which in its 12th survey of the Brazilian grain harvest 2018/19, pointed to a record grain harvest in the current harvest, of around 242,1 million tons, in addition to the intensification of purchases in several other product groups.

In terms of volume, in August, movements were 4,8 million imported tons, an increase of 7,2% in relation to the 4,5 million tons in July, performing a bimonthly performance strongly impacted by the high purchases of fertilizers and its intermediaries, with purchases from abroad of practically 5,6 million tons (2/3 of the total for the two months).

“We are closely monitoring trade flows and firmly advocate for the efficient functioning of the Brazilian trade defense system, an indispensable tool for the Government to deliver a fair and equal competitive environment, guaranteeing the responsible international insertion of the Brazilian economy, especially at a time when that the surplus available on the international market with the intensification of the trade war between the largest economies represents a real threat to national production and the attraction of new investments to Brazil”, highlights the director of Foreign Trade Affairs at Abiquim, Denise Naranjo.