Exports advanced 32.9% and imports increased 8.7%, keeping the North American country as Brazil's second largest trading partner

published 7/14/2021 1:08 PM, last modified 7/14/2021 1:22 PM

According to our Brazil-US Trade Monitor, trade between the two countries grew in the first half of 2021. Brazilian exports increased 32.9% and imports increased 8.7% compared to the same period in 2020, which maintains the US as Brazil's second largest trading partner in goods. The total amount of exports was US$13.3 billion and imports US$16.4 billion.
“The economic recovery in both Brazil and the US has strengthened bilateral trade. Amcham's projections indicate that 2021 will register a growth of up to 30% of our exports to the USA and of up to 20% of our imports coming from that country. These numbers are a clear indicator of the heating up of business between both countries”, says our Executive Vice President, Abrão Neto.

The US economy grew by 6.4% in the 1st quarter of 2021 and should continue to grow throughout the year. The advanced stage of vaccination and US government stimulus packages have increased foreign demand, including for products imported from Brazil, such as those from the steel, civil construction, aeronautics and oil sectors. Brazilian exports to the US in the first half of 2021 represented 9.8% of the country's total exports in the period.

On the import side, it is possible to observe a beginning of recovery. Brazilian imports originating in the USA advanced 8.7%, reaching the value of US$ 16.4 billion so far. Despite this positive movement, the percentage was still three times lower than the total increase of 26.5% of everything Brazil bought from the world. Among the 10 main Brazilian import origins, the increase in the United States was the second lowest, just ahead of France.

As a result, Brazil had a deficit of US$3.1 billion with the US, which was the biggest negative balance recorded by Brazil among all its trading partners in the year. In general, bilateral exchanges with the North American country represented 12.7% of Brazilian trade with the world, only behind China (29.1%).
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