Brazil's Chemicals Deficit Falls in 2023
Recently, the Brazilian Chemical Industry Association stated that the value of Brazil's chemical imports in 2023 reached US$61.2 billion, the second highest figure in the past 35 years, bringing the chemical industry's trade deficit to US$46.6 billion.
In 2023, Brazil's plasticizer imports have the highest growth rate of 55.4%, followed by thermoplastic resins and their intermediates, basic petrochemicals, detergent chemical intermediates and various other industrial chemical products. Asia remains Brazil's main supplier of chemicals, accounting for 29% of the total, or $17.7 billion.
In 2022, Brazil's chemicals trade deficit reached US$63 billion. The Brazilian Chemical Industry Association said: "Compared with 2022, Brazil's physical imports of chemicals increased by 2.3% in 2023, totaling 58.6 million tons. The decline in Brazil's chemicals deficit is not due to a decrease in import volume, but a decrease in import prices."
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