Brazil will record a $25.9 billion trade deficit of chemical products at the end of 2011, which represents an increase of 25% from 2010, and the highest level recorded in the past 20 years, according to a report released Monday by the Brazilian Chemical Industry Association (Abiquim).
The report said that in 2011 imports of chemical products into Brazil amounted $41.6 billion against $15.7 billion in exports.
According to Abiquim, the Brazilian chemical industry is expected to report total net sales of $158.5 billion in 2011, an increase of 23.4% compared to last year. Of that total, $76.2 billion will be from the chemical-product-for-industrial-use segment, while $25.3 billion will be from the pharmaceutical sector and $16.9 billion from the fertilizing segment, among others.
In 2010, the world's chemical industry recorded sales of nearly $4.125 trillion, with China the largest seller with $903 billion, followed by the US with $720 billion and by Japan with $338 billion.
Brazil was seventh with $129 billion total sales, the report said.
