Brazilian Seaborne Trade Up 41.9% in 2023, Says Private Terminals Association

Brazilian seaborne trade surged by 41.9% in 2023, reaching a milestone of US＄119.1 billion in FOB value (Free onboard – freight in which the buyer assumes all risks and costs of transporting the goods) compared to the previous year. The upswing in national maritime trade stems from a 1.9% increase in exports, totaling US＄300.4 billion last year, in contrast to a 14% decline in imports.

The Association of Private Port Terminals (ATP) disclosed the information above based on data from the Ministry of Development, Industry, Trade, and Services (MDIC) statistics system.

ATP President Murillo Barbosa notes that the cargo movement in Brazilian port terminals was driven by strategically important goods in the logistics sector, such as sugar (+43.4% in FOB value), seeds, oilseeds like soy, and ore that reached US$34.6 billion in exports, representing a 7.2% growth.

The chart uses DataLiner data to display which ports in Brazil excelled at sugar shipments from January to November 2023.

Top Sugar Export Ports | 2023 | WTMT

Source: DataLiner (click here to request a demo)

“In the case of iron ore, Private Use Terminals accounted for 86.1% of the outflow of this commodity. The Sudeste Port was the highlight of 2023, recording an increase of over 50% in its iron ore operations,” recalls Barbosa.

Regarding imports, Barbosa attributes the reduction primarily to the decrease in the quantity and average price of mineral fuels, down 22%  in the average price. Additionally, fertilizers also played a significant role, with a 7.4% increase in the volume imported, contrasting to the substantial drop of over 40% in their average value, back to the levels seen before the Ukraine-Russia conflict.

Private Use Terminals (TUPs) are responsible for over 65% of cargo movements in the country.

For Barbosa, the outlook for the coming years is promising, provided that investments in the sector continue to grow. “The remarkable increase in Brazilian maritime trade in 2023 shows the strength of Brazilian port terminals. The noteworthy performance of the maritime industry signals a promising outlook for Brazilian foreign trade. Investments in port infrastructure are essential to maintain this upward trajectory in the following years,” said the ATP President.

Source: Comex do Brasil

Sharing is caring!