Brazilian Textile and Apparel Industry Exports Climb 20.86% Jan-Aug

According to data by the Brazilian Textile and Apparel Industry Association (Abit), exports from January to August 2022 grew 0.86% compared to the same period in 2021, from US$ 665 million to US$ 804 million. Over the same comparison period, imports increased by 17.35%, ranging from US$ 3.29 billion to US$ 3.86 billion. The trade balance deficit rose from US$ 2.63 billion to US$ 3.06 billion, an increase of 16.45%.

Argentina, Paraguay, the United States, Colombia, Uruguay, Peru, Mexico, Chile, China, and Ecuador made up the top ten export markets for Brazilian goods. Most imports came from China, followed by India, Paraguay, the United States, Vietnam, Bangladesh, Indonesia, Turkey, Israel, Argentina, and Italy.

The top three export products in terms of value were clothing, which saw a growth of 33% over the first eight months of 2021; flat cotton fabrics, which saw an increase of 26.7%; and elastane filament, which saw a growth of 43.5%.

China’s total account, US$ 2.26 billion, represented 58.5% of imports from January to August. The value of transactions with the Asian country grew by 32.37% compared to the same period in 2021, in contrast to purchases from other nations, which either saw sharp declines or remained stable. For example, there was a decrease of 30.81% in India and 19.05% in the case of Vietnam.

In light of what could be observed between January and August 2021, a 9% increase in textile products and a 44.9% increase in apparel items helped push the 17.3% gain in imports. However, despite the relevant growth in apparel items, this value is down 4.8% from the first eight months of 2019, before the pandemic season.

See below the track record of container shipments, in TEUs, of textile and apparel items (HS codes 58 to 63) to and from Brazil between January 2019 and August 2022. The data is from DataLiner.

Textile and Apparel Exports and Imports | Jan 2019 – Aug 2022 | TEUs

Source: DataLiner (click here to request a demo)

It is also interesting to note the 42.88% growth in imports from Bangladesh. Admittedly, purchases from that country, worth US$ 98.07 million, represented only 2.55% of total spending from January to August this year, but the increase compared to 2021 was significant.

Source: Comex do Brasil

To read the full original article, please go to: https://www.comexdobrasil.com/setor-textil-e-de-confeccao-registra-aumento-de-2086-nas-exportacoes-de-janeiro-a-agosto/

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