The exchange of products between Brazil and the United States, the second largest Brazilian trading partner, reached an all-time high with vaccine imports and the appreciation of both commodities and industrial inputs shipped to the American market.
The observation is made by Amcham Brasil, which also points out an unusual flow in the import of American natural gas – US$ 3.3 billion last year – due to the activation of thermal plants in the midst of the water crisis.
The trade flow between the two countries – that is, the sum of everything that Brazil exports and imports from the United States – reached US$ 70.5 billion last year, a financial volume that is second only to bilateral trade with China. , exceeding US$ 135 billion.
Amcham highlights that both Brazilian exports to the United States (US$ 31.1 billion) and imports (US$ 39.4 billion) represent unprecedented values. “The performance of bilateral trade in 2021 was unprecedented. We had a year of record exports and imports between Brazil and the United States, surpassing the strong drop of 23.5% that had occurred in the previous year”, commented Abrão Neto, executive vice president of Amcham Brasil.
Sales to the United States were boosted, according to the chamber of commerce, by the combination of increased demand and rising prices in sectors such as steel and oil. Brazilian exports of iron and steel semi-finished products reached US$ 4.5 billion, while US purchases of crude oil totaled US$ 3.1 billion. Also noteworthy were exports of aircraft and their parts (US$ 1.5 billion), pig iron (US$ 1.2 billion), unroasted coffee (US$ 1.1 billion) and cellulose (US$ 1.1 billion ).
On the import side, in addition to natural gas, the purchase in Brazil of vaccines produced by American pharmaceutical companies totaled US$ 2.3 billion, more than five times more than the previous year. “The record in imports was strongly determined by conjunctural issues, in particular the water crisis and the pandemic. There was a significant increase in purchases of natural gas from the United States to supply thermoelectric plants, whose energy production intensified due to the scarcity of rains. There were also large volumes of vaccines against covid-19”, explains Abrão Neto.
Amcham expects trade between the two countries to remain heated this year, albeit with less momentum due to the economic slowdown in both Brazil and the United States. “We estimate that bilateral trade will maintain an upward trajectory in 2022, with a moderate increase in exchanges”, says Abrão Neto.
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