Exports from Brazil grow 34.2% in 2021

Brazil‘s exports (products) rose to an interannual rate of 34.2% in 2021, at 280,630 million dollars.

As the Brazilian government disseminates this result, the World Bank projects that growth in Brazil will slow down sharply in 2022, to 1.4%, more than a percentage point below the forecast in June, due to the weak data coming in and the empeoramiento de la confidence de los inverteres, before rising to 2.7 percent in 2023.

At the same time, the World Bank projects that private consumption in this country will decrease substantially in 2022, and that high inflation will reduce purchasing power and the conditions of the labor market will slowly improve.

The unemployment rate remains stubbornly high, at more than 12% in the second half of 2021.

In particular, the deceleration of growth in China, the largest export destination in Brazil, and a strong decline related to the prices of hierro mineral will weigh on exports in the short term.

Asimism, the hardening of monetary policy will limit further growth.

Imports

In the year/december of 2021, in comparison with the same period of the previous year, the results of external purchases by sectors followed: growth of 30.2% in Agriculture, which totaled 5,360 million dollars; expansion of 100.3% in the Extractive Industry (12,990 million) and a growth of 35.1% in the Manufacturing Industry (197,430 million).

The combination of these results led to an increase in total imports.

This scenario of growth of imports influenced the growth of purchases of the following products: Whole, live, dead or chilled fish (66.8%), Wheat and 100% without milling (24.3%) and Maize without milling, except sweet maize ( 261.3%) in Agriculture; Hulla, included in octopus, but without agglomeration (71.7%), Crude oil or bituminous mineral oils, crude (52.9%) and Natural Gas, liquefied or not (298%) in the Extractive Industry; Petroleum or bituminous fuels (except crudes) (81.9%), Medicines and pharmaceutical products, except veterinary (77.1%) and Fertilizers or chemical fertilizers (except crudes) (89%) in Transformación.

Exports from Brazil

In 2021, at interannual rates, the results by foreign sales sectors were the following: growth of 22.2% in Agriculture, which totaled 55,180 million dollars; a growth of 62.8% in the Extractive Industry (79,830 million) and, finally, a growth of 26.3% in the Manufacturing Industry (144,120 million). The association of these results led to an increase in total exports.

In this context of growth of exports from Brazil, it influenced the growth of sales of the following products: Coffee without toast (16.7%), Soybean (35.3%) and Raw cotton (5.5%) in Agriculture; Hierro mineral and its concentrates (73%), copper minerals and its concentrates (39.8%) and crude oil or bituminous mineral oil (55.3%) in the Extractive Industry; Soybean and other animal feed (excluding cereals without miller), meat and other animal foods (25.2%), Bituminous petroleum or mineral fuels (except crude oil) (43.6%) and Semi-finished products -finished products, ingots and other raw materials forms of hierro or steel (101.3%) in the Transformation Industry.