Brazil-Africa trade grows 36.9% in October, unable to catch up to past records

From January to October, Brazilian exports to the African continent increased by 42.3%, which totaled US$ 10.446 billion. Conversely, African countries sold a total of US$ 6.808 billion to the South American nation (an increase of 27.1%). These figures, though, are still short of the record set in 2013, when the trade flow (exports+imports) totaled US$ 28.465 billion.

In 2021, the Brazil-Africa trade reached US$ 15.911 billion. This year, from January to October, bilateral exchange between the two regions totaled US$ 17.254 billion, with an increase of 36.9% compared to the same period in 2021. The data is from the Foreign Trade Secretariat (Secex) of the Ministry of Economy.

From January to October this year, Brazil-Africa trade totaled US$ 17.254 billion, a 36.9% increase compared to the first ten months of last year. African countries were the final destination of 3.72% of all Brazilian exports in the period. As a result, Brazil accumulated a surplus of US$ 3.638 billion, higher than the balance of US$ 3.047 billion registered in 2021.

Sugar and molasses topped the list of exports to Africa, accounting for US$ 2.8 billion, or 27% of total sales to that continent. Corn (US$ 1.19 billion) was also among the top exports, followed by fuel oils (US$878 million), soy ($771 million), poultry ($690 million), other manufacturing industry products (US$ 369 million), road vehicles (US$113 million), vehicle parts and accessories ($103 million), and agricultural machinery (US$ 58 million).

Fertilizers and chemical fertilizers led the list of African exports to Brazil, thanks to an increase of 40.5% that took sales to US$ 3.1 billion, accounting for 46% of all exports from the continent to the country. Among the highlights in the basket were oil (US$ 1.66 billion); fuel oils (US$ 441 million); silver, platinum ($277 million); and other manufacturing industry products (US$ 235 million).

Exports by country

Egypt was the most important destination for Brazilian exports to Africa, with shipments increasing by 40.3% to US$ 2.3 billion, accounting for 22% of Brazilian sales to the African continent.

Please check below the top ten Brazilian exports to Egypt in containers from Jan-Dec 2021 in comparison to the first ten months of 2022. The data is from DataLiner.

Top Ten Brazilian Exports to Egypt | 2021 x 2022 | TEUs

Source: DataLiner (click here to request a demo)

Among Brazil’s biggest partners this year were Algeria (US$ 1.58 billion); South Africa (US$ 1.35 billion); Morocco (US$ 933 million); Nigeria (US$ 725 million), and Angola (US$ 495 million).

Ranking of Imports

Morocco led the list of countries that exported the most to Brazil between January and October this year, with deals totaling US$ 2.0 billion. Nigeria was followed by South Africa ($807 million), Algeria ($779 million), Egypt ($599 million), and Angola ($490 million).

Source: Comex do Brasil

To read the full original article, please go to: https://www.comexdobrasil.com/fluxo-de-comercio-entre-brasil-e-africa-cresce-369-ate-outubro-mas-segue-ainda-distante-dos-recordes-do-passado/

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