Brazil imported US$3.1bn of chemical products in January 2012, 16.1% more than in the same month last year, national chemical industry association Abiquim reported.

Exports in the month were up 6.4% year-on-year to US$1.1bn; however, when compared with December 2011, exports fell 11.5% and imports dropped 12.4%.

The trade deficit in chemicals amounted to US$26.9bn over the last 12 months, the report said.

In volume terms, imports of chemical products in January slipped 4.7% year-on-year to 2.5Mt, while export volumes grew 10.3% to 1Mt.

Thermoplastic resins were the most exported chemical product last month, with sales climbing 21.4% from January 2011 to US$201mn and volumes up 28.2% to 139,000t, according to Abiquim.

At US$560mn, intermediates for fertilizers were January’s main import, up 11.9% on the prior-year month.

To stimulate investment in new productive capacity and narrow the trade deficit in chemicals, the Brazilian government needs to establish a regulatory framework for the use of natural gas as a raw material, Fernando Figueiredo, Abiquim’s executive president was reported as saying.

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