Brazil’s chemical industry sales are forecast to jump 23.4% in 2011 to US$159bn, industry association Abiquim said in a release Monday (Dec 12).

In local currency terms, this represents an increase of 15.8%.

Sales of chemical products for industrial use are expected to rise 24.5% to US$76.2bn, while fertilizer sales will jump some 47.5% to US$16.9bn, according to Abiquim.

The trade deficit is expected to hit a record US$25.9bn, widening from US$20.7bn in 2010.

In 2011-16, some US$19.1bn of investments are planned or underway in the chemical products for industrial use sector, the release added.

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