Brazil's chemical industry trade deficit or record high

Recently, the Brazilian Chemical Industry Association released a forecast that affected by the surge in international chemical derivatives commodity prices, the trade deficit of Brazil's chemical sector will reach $64.8 billion in 2022, an increase of 40.3% over 2021. Among them, the import value of chemical products reached 82.6 billion US dollars, a year-on-year increase of 36.1%; The export value reached 17.7 billion US dollars, a year-on-year increase of 22.1%.

In 2022, Brazil's chemical industry is expected to have annual sales of R$969.4 billion, up 24.0% year-on-year, but its chemical production will remain at 2021 levels. In addition, sales in Brazil's chemical sector reached $187 billion in dollar terms, up 27.3% year-on-year. Of this amount, $88.3 billion is expected to increase sales by 24.6% year-on-year due to resins, elastomers, and industrial chemicals for various formulations.