US breaks historical record in imports of Brazilian manufactured products

Brazilian exports of manufactured products to the United States hit a historic record in the first half of this year, totaling US$ 14.5 billion, an increase of 4% compared to the same period in 2022. Overall, exports to the United States totaled US$ 17.2 billion, with a slight decrease of 2.1% in relation to the same period of the previous year.

These numbers consolidated the United States as the main destination for Brazilian foreign sales of industrial goods, corresponding to 17% of the total volume shipped by Brazilian companies to the American market.

During this period, Brazilian sales of these products to other countries fell by 0.1%. The data are one of the highlights of the US-Brazil Foreign Trade Monitor, released last week by the American Chamber of Commerce.

Another relevant data from the survey carried out by Amcham Brasil: eight of the ten main products exported to the United States are from the transformation industry, involving strategic sectors, such as steel, aeronautics and machinery and equipment.

Exports of aircraft and parts, for example, generated revenues of US$ 857 million, with an increase of 6.0% over the total shipped in the first half of last year. As a result, the United States is by far the main market for aircraft produced and exported by Embraer.

Another important item in the export basket for the largest economy on the planet is civil engineering equipment, which also has the United States as its largest market abroad. From January to June, exports of these goods totaled US$ 751 million, with a sharp rise of 37.4% over the first half of last year.

There was growth in the value of goods such as semi-finished iron and steel (14.2%); cellulose (20%) and fruit and vegetable juices (69.3%). On the other hand, falls were recorded in sales of crude oil (-34%), unroasted coffee (-32.3%), and partially worked wood (-36.3%).

According to Abrão Neto, CEO of Amcham Brasil, “the performance of industrial exports from Brazil to the United States continues to evolve in terms of added value and volume, which highlights the importance of the bilateral relationship for the economy and for the Brazilian productive sector”.

China concentrates imports on commodities

China and the United States, in order, Brazil’s main and second largest trading partner, have a very different profile as importers of Brazilian products. While China’s portfolio is heavily concentrated in primary products, with lower added value, the United States is the largest market for Brazilian manufactured goods.

In the first half of this year, China imported a total of US$ 49.852 billion from Brazil, with an increase of 5.9% compared to the same period in 2023. Of this total, only three products -soy, oil and iron ore- accounted for 80% of the total volume imported by the Chinese: soybeans (US$ 23.1 billion and a 46% share in imports); oil (US$8.7 billion and a percentage of 17% of imports); and iron ore (US$ 8.3 billion, corresponding to 17% of the total imported by the Chinese).

Among goods with higher added value, Chinese imports were practically restricted to items from the manufacturing industry (US$ 414 million, corresponding to only 0.83% of the total imported); pig iron, Spiegel (US$ 719 million and a percentage of 1.4% of the total imported); and cellulose (US$ 1.83 billion, corresponding to 3.7% of the entire volume imported by the Chinese.

Source: Comex do Brasil

To read the original article, visit: https://comexdobrasil.com/eua-batem-recorde-historico-na-importacao-de-produtos-manufaturados-brasileiros/

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