Independent Brazilian exports of resilience in 2020, during a Covid-19 pandemic, driven by the evolution of sales of basic products. According to the Central Bank (BC), the highlights were the good performances of soybeans, with an increase in the quantity exported, notably in the Midwest region, and of iron ore, in northern Brazil, which showed an improvement in prices.

Manufactured exports, on the other hand, decreased, reflecting the global economic slowdown caused by the covid-19 pandemic, mainly impacting the results of the Southeast and South regions. The analysis of this scenario was released on Thursday (04) by the Central Bank, within the scope of regional newsletters. According to the BC, the balance of trade balance in 2020 exceeded the result of 2019 by US $ 2.9 billion, with a more intense reduction in imports than in exports, given the weakening of domestic and external demands impacted by the pandemic and the exchange rate depreciation. The study highlights the growth in soybean sales. “The behavior was driven by the record harvest last year and strong international demand, which had an impact on the internal availability of the product and the impact on consumer prices.

External sales of iron ore also had significant growth, reflecting the increase in international prices of the commodity, in contrast to the drop in export volume. China’s share as a Brazilian ore market rose from 59.6% in 2019 to 71.8% in 2020. In turn, exports of crude petroleum oils, mostly expressed to China, recorded a drop in value, as a result of lower international prices, despite the positive evolution in the quantity exported. Another item of commercial prominence, according to the BC, raw cane sugar (semimanufactured), showing growth in the exported value, with an emphasis on increasing the exported quantity.

Source: comexdobrasil