Argentinian polymer and synthetic rubber production shot up 53.4% in January from the year-earlier month, mostly because of plant shutdowns for maintenance in the year-earlier period, the state statistics office Indec said Wednesday.
Indec did not provide raw data in a monthly industrial production report.
The production of basic chemicals rose 5.7% in January on the year, Indec said.
Output of plastic goods rose 1.3%, driven by demand from makers of pipes, accessories and door and window frames, as well as parts for household appliances like dishwashers and some electrical goods, it added.
The economy is expected to grow 3% this year, according to the World Bank, putting behind a 2016 recession and sluggish growth last year.
The production of tires fell 17.9% over the same period, as several producers shut their plants for upkeep. Even so, Indec said it expects demand for tires to increase, pushing up consumption of petrochemicals as car sales rise with faster economic growth and increased exports, in particular to Brazil, the country’s biggest automotive export market.
The top petrochemical producers in Argentina include state-run YPF, Dow Chemical and Pampa Energia.
- Platts.com
