IHS Chemical Week

Chemical Week Magazine :: Basic Chemicals & Plastics

Venezuela’s petchems industry struggles with oil slump From net plastics exporter to net importer

6:37 AM MDT | March 20, 2015 | —Rina Quijada

Venezuela’s economy has been under intense pressure in recent years. Erratic economic policies and oil prices’ freefall have set the scenario for economic contraction, high inflation, and policies that make it difficult to attract much-needed foreign investment. IHS forecasts that Venezuela’s economy, having already fallen 4.1% in 2014, will shrink more than 3% in the next two years. Some recovery is expected after 2017....

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