By: Franyi Sarmiento, Ph.D., Inspenet, June 24, 2022
Production, local sales and exports of the chemical and petrochemical industry registered a 3% year-on-year growth in April, while local sales rose 49% and exports 39%, according to a report by the Argentine Chamber of the Chemical and Petrochemical Industry (Ciqyp).
The report stated that production growth of 3% compared to April 2021, with agrochemical end products as the most influential sub-sector. However, it fell by 12% with respect to March 2022 due to unscheduled plant shutdowns and accumulated stock, while in the first four months of this year it rose by 16% with respect to the same period of the previous year.
Local sales increased 49% year-on-year, as a result of the increase in sales volume and prices of products at the global level, also considering the depreciation of the dollar, with agrochemical end products being the most influential subsector.
The accumulated figure for the first four months of the year recorded an increase of 43%, and with respect to March, a 3% drop was observed, influenced by agrochemical end products.
Exports showed a month-on-month growth of 21% and a year-on-year increase of 39% as a result of increases in prices and volumes sold, opportunities for specific exports, with thermoplastic end products as the predominant subsector, and for the same reasons, the accumulated figure for the year grew by 68%.
On the other hand, the report noted that the sector’s installed capacity during April had an average use of 51% for basic and intermediate products and 86% for petrochemical products.
The trade balance of the sector’s products during April 2022 was 116% lower than the same month of the previous year, with positive variations of 86% in imports and 40% in exports.
Finally, total sales, which include the local market and exports during April 2022, reached USD 482 million, accumulating a total of USD 1,775 million in the first four months of the year.
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