In November the sector faced drops in production and sales, but exports were on the rise. They project good future prospects.
The exports of chemicals and petrochemicals They grew 8% last November, 82% year-on-year and accumulated an increase of 38% in 11 months of 2024, with total sales to the domestic and foreign market for more than US$3.5 billion.
Although during November exports marked an increase favored by the basic organic subsectors, thermoplastic finals and agrochemicals, the monthly report of the Chamber of the Chemical and Petrochemical Industry (CIQyP) On the sectoral outlook, he highlighted that The sector’s production fell 4% compared to the previous month.
“When comparing with the same month of the previous year, a drop of 3% is also observed at the sector level; while the cumulative figure for the year for this month reflects negative values, falling 4%, affected by all subsectors,” highlighted the study to which he accessed Energy Report.
The CIQyP survey indicated that Local sales were also impacted, with a drop of 14% compared to the previous month, which some companies attribute to a decrease in volume and sales prices. In year-on-year terms, all subsectors were affected, with a drop of 37%, except for organic basics. The annual accumulated also reflects a decrease of 28%.
The report also showed that the PyMIQ (Small and Medium Chemical Industry) sector achieved positive values both in the year-on-year of 53% -due to the fact that in 2023 there were unscheduled plant shutdowns, which were not carried out during 2024-, and in the accumulated of the year of 4% up in production; while there was a drop in the monthly variation.
For its part, in the exports of PyMIQ The numbers were also positive: 6% month-on-month and 7% year-on-year; while a negative 11% in the accumulated of the year. For the small industry, all local sales variables were negative.
What is the trade balance and installed capacity of chemicals and petrochemicals
During November 2024, the trade balance -measured in dollars- of the sector’s products was 24.46% lower than the same month of the previous year, with negative variations of 18.46% in imports and 6.59% in exports.
The installed capacity of the industries that provide information to the CIQyP report had an average use of 54% in November for basic and intermediate products and 83% for petrochemical products.
What were the total sales?
In summary, the total sales of the sector in general, which includes the PyMIQ, (local market and exports) of the products reported by the companies revealed that in November 2024 they reached US$327 million, but that in the accumulation of 11 months of last year were US$3,548 million.
Jorge de Zavaleta, executive director of the Chamber of the Chemical and Petrochemical Industry (CIQyP)pointed out that “November has been another complex month for the Chemical – Petrochemical sector, with significant drops in local production and sales, but with an increase in exports which explains the competitiveness of the sector to go abroad. The context remains challenging, although there are expectations of slight improvements in the coming months.”
Source: Ambito
