As Brazil’s chemicals trade deficit continues to climb, national chemicals association Abiquim (São Paulo; www.abiquim.org.br/english) has once again called for increased investments in the sector. The trade deficit for chemical products reached record levels of USD 26.5 bn (EUR 20.2 bn) last year, 28% higher than in 2010, Abiquim said. Imports rose 25% to USD 42.3 bn in 2011, while exports were 21% higher at USD 15.8 bn.

Brazil’s rising demand for chemicals products is increasingly being met by imports, said Abiquim executive president Fernando Figueiredo. It is essential that new investments are made to substitute these imports and increase exports, he added.

Abiquim identified, in a 2010 study, potential investments of USD 167 bn between 2010 and 2020, resulting in the creation of more than 2m jobs. The calculation takes into account the expansion of bio-based chemicals production in Brazil and opportunities based on pre-salt oil explorations.

e-Service:
Abiquim´s National Pact for the Chemical Industry as a PDF document