According to the data released by the Brazilian Chemical Industry Association (Abiquim) on July 2, the chemical production in Brazil fell by 1.24% in May from the previous month but increased by 5.85% compared with the same period of last year; the sales volume of chemicals increased by 9.65% year-on-year, but decreased by 0.14 %.
Compared with April this year, the Brazilian chemical price index increased by 4.93%, but there was no year-on-year figure. From January to May this year, the chemical price index increased by 6.06% over the same period of last year. Compared with the previous months, the output was lower in April and May of this year due to the decline in demand in key consumer sectors such as automobiles and construction. Compared with the same period of last year, Brazilian chemical consumption increased by 0.54% in the first five months of this year.
Fatima Giovanna, director of economics and strategy at the Brazilian Chemical Industry Association, criticized the Brazilian government's measures to improve the economy. He said that these isolated measures did not achieve the desired results. He believes that high electricity prices and high natural gas prices have hindered the development of the Brazilian chemical industry.
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