Brazil’s Federal District exported nearly 200 products in 1Q24

The Brazilian Federal District gained momentum in foreign trade in the second quarter of 2024, posting significant growth in exports and imports compared to the previous quarter. Among the highlights, revamped international demand for soybeans stood out, with the product achieving an increase of over 300% in value and volume, according to Adrielli Dias, coordinator of economic studies.

The second edition of the Federal District Foreign Trade Bulletin revealed unique characteristics of local production, such as the performance of the baking sector. Exports of bread-making dough, for instance, accounted for 30.6% of Brazil’s sales, placing the Federal District as the country’s second-largest exporter in this segment, behind only Minas Gerais.

Diversification was another hallmark of the period. According to Francisca Lucena, Director of Statistics and Socioeconomic Research at IPEDF, the Federal District traded nearly 200 products during the quarter. Corn for seeding emerged as a promising new market, expanding the scope beyond soybeans and poultry meat, representing over 80% of total export value.

Economic factors also played an important role. The depreciation of the Brazilian real against the US dollar boosted export competitiveness, while international commodity prices positively influenced results. Additionally, the seasonality of certain products impacted both supply and demand.

On the import side, public procurement stood out, with purchases of medicines and vaccines driving the positive variations observed during the quarter.

“The Bulletin helps us better understand the Federal District’s economic dynamics, offering valuable information for the government and society. This continuous monitoring strengthens our understanding of the region’s trade potential and challenges,” said Manoel Clementino, president-director of IPEDF Codeplan.

The second quarter’s performance highlights the importance of productive diversification and strengthening local supply chains for the Federal District’s global market competitiveness.

Source: Diplomacia Business

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