Brazil-US trade reaches record level

After registering the worst results in 11 years and decreasing by 23.5% in 2020 as a result of the pandemic, trade between Brazil and the United States has recovered its momentum and reached an all-time high: US$ 49.6 billion YTD in September this year.

As indicated by the most recent Brazil-United States Trade Monitor recently released by Amcham, the September figure represents the largest bilateral trade flow for the period since the beginning of the Brazilian trade balance series begun in 1997. Previously, the largest YTD bilateral trade flow until September had been in 2019, equivalent to US$48.2 billion.

Brazilian exports grew 47%

Brazilian exports to the United States totaled US$ 22.3 billion up to September 2021 – 47.1% more than in the same period last year. “With this, Brazilian sales to the United States return to the pre-pandemic level and have set a new record”, the vice-president of the organization, Abrão Neto.

Shipments from Brazil to the United States in 2021 represented 10.4% of total Brazilian exports. The growth rate of exports to the US in the year surpassed the growth rate of total Brazilian exports, which was 36.9%.

“The highlight on the export side comes from steel, fuel, aircraft, and wood products”, states the executive. Sales of semi-finished steel and crude oil grew by 137% and 206%, respectively, influenced by the increase in global prices.

Brazilian imports grew 29% 

Brazilian imports from the United States also reached an unprecedented value of US$ 27.3 billion, an increase of 29.8% compared to 2020, and represented 17.4% of all Brazilian imports YTD until September 2021. Even so, the 36.4% growth of total Brazilian imports was above the rate of increase in imports in the bilateral scope.

According to Abrão Neto, “Brazilian imports were intensified by the almost-1700% increase in natural gas imports due to the worst water crisis in the last  century and the 300% increase in health care product imports due to the pandemic.”

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