Freight forwarder Asia Shipping looms in the India-Latin America trade

Asia Shipping, a Brazilian multinational specializing in the integration of cargo, commemorates its leadership among freight forwarders in the India-Latin America trade, with 15,000 TEUs moved from January to November 2022,  an increase of 30% compared to the same period of the previous year.

According to the Sales Director at Asia Shipping, Rafael Dantas, India is a growing market that tends to occupy an increasingly relevant position in global foreign trade.

Today, India is Brazil’s fifth largest trading partner for Brazilian imports. The trade flow between the countries reached US$ 7 billion in 2019, with Brazilian exports accounting for $2.76 billion and Indian imports accounting for $4.26 billion.

See below a chart comparing exports and imports of containerized cargo between Brazil and India from Jan 2019 and Nov 2022. The data is from DataLiner.

India-Brazil container trade | Jan 2019 – Nov 2022 | TEUs

Source: DataLiner (click here to request a demo)

However, commercial exchange between Brazil and India reached its highest historical level in 2021, totaling US$11.5 billion (an increase of 63.5% compared to 2020), with Brazilian exports worth US$4.8 billion and imports from India costing US$ 6.7 billion.

The main products transported in the India-Latin America trade via Asia Shipping are tires, insecticides, fungicides, herbicides, disinfectants, and synthetic filament yarn (except sewing thread). Asbestos, wood, iron, and steel stand out on the route from Latin America to India.

“With the potential growth of commercial relations not only with India but also with other Asian countries, we expect to open a third office in Bangladesh in 2023 to offer an even more qualified service to serve the retail market, particularly the fashion market,” concludes Alexandre Pimenta, CEO of Asia Shipping.

Source: Comex do Brasil

To read the full original article, please access: https://www.comexdobrasil.com/asia-shipping-e-lider-no-trade-da-india-para-america-latina-e-ve-pais-asiatico-protagonista-do-comercio-exterior-global/

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