Brazil chemical imports down

2020-03-25 01:12:28

(MENAFN- Brazil-Arab News Agency (ANBA)) From the Newsroom

São Paulo – Brazil decreased by 12.6% its chemical imports in February from a year ago, the Brazilian Chemical Industry Association (Abiquim) reported. Purchases amounted to USD 2.9 billion. Year-to-date through February, chemical imports to Brazil reached USD 6.3 billion, down 9.1% year-on-year. The level of decline was higher than average compared with the last years.

Conversely, chemicals exports from Brazil grossed USD 1.9 billion, down 5.8% year-on-year. Abiquim reported that sales didn't decline more due to a 24.8% increase in the volume of exports of calcined alumina and other inorganic products, which account for 70% of the sector's exports.

According to Abiquim, the industry is starting to feel the impacts of COVID-19 pandemic, exchange fluctuations and downward revisions of the economic performance. 'We reiterate the industry's commitment to support and supply the country with key basic inputs to tackle the crisis,' Abiquim executive president Ciro Marino was quoted as saying in a press release.

Translated by Guilherme Miranda

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