Brazil chemical trade deficit narrows

Recently, statistics from the Brazilian Chemical Industry Association show that in the first two months of 2023, the trade deficit of the Brazilian chemical industry was US$7.4 billion, a year-on-year decrease of 8.7%. In the first two months of this year, the import value of the Brazilian chemical industry was 9.7 billion US dollars, a year-on-year decrease of 8.3%; the export value was 2.3 billion US dollars, a year-on-year decrease of 7.0%. Import volume decreased by 10% year-on-year, and export volume decreased by 3.2% year-on-year.

In February this year, the import volume of Brazil's chemical trade was 4.3 billion US dollars, a year-on-year decrease of 22.7%; the import volume was 3.3 million tons, the lowest import level since February 2020. The export volume of Brazil's chemical trade in the month was 1.1 billion US dollars, a year-on-year decrease of 14.9%; the export volume was 1.1 million tons, a year-on-year decrease of 14.9%.