Brazil's chemicals trade deficit narrowed 8.7 per cent year on year

Recently, statistics from the Brazilian Chemical Industry Association showed that in the first two months of 2023, the trade deficit of Brazil's chemical industry was 7.4 billion dollars, narrowing by 8.7% from the same period last year. In the first two months of this year, imports from Brazil's chemical industry were $9.7 billion, down 8.3 percent from a year earlier. Exports decreased by 7.0 percent year-on-year to 2.3 billion dollars. Imports were down 10 percent from a year earlier, while exports were down 3.2 percent.

In February, Brazil's chemical imports were $4.3 billion, down 22.7 percent from a year earlier. Imports came in at 3.3 million tonnes, the lowest level since February 2020. Brazil's chemical exports fell 14.9% year on year to $1.1 billion. Exports were 1.1 million tons, down 14.9 percent year on year.