The final numbers for Brazil’s 2017 Balance of Trade, were published by the Ministry of Industry, Foreign Trade and Services (MDIC) on January 2, 2018. The result is surprisingly good; despite the political-economic crisis that has been haunting the country since 2014, both import and export numbers have risen.
In total, international commerce between Brazil and other countries rose around US$ 368,491 billion, a 15% increase compared to 2016 (US$ 322,787 billion). External sales accounted for US$ 217,746 billion, while importations made up US$ 150,745 billion. Commodities’ prices and exportations were recorded: 692 million tons and a rise in their value, since the 2016 decline.
The prospects for 2018 are exciting, with Brazil expecting to see an additional rise in foreign trade, setting it on course for a more successful fiscal year. The domestic market will grow in demand; commodities and grains are expected to be produced and commercialized more than ever. This means that this is the best moment for businesses and governments to invest in the country. There will be for certain grand opportunities in the agribusiness and in the automotive sector. National automakers are already starting to sell to Middle-Eastern and African countries to counterbalance the mild internal market.
Besides all those factors, Mercosur members are more open to free-trade agreements and willing to negotiate good deals, as was shown in the LI Mercosur Presidential Summit reported by Sidera in a previous post.
For further information on the matter, please refer to the Ministry’s official website: http://www.mdic.gov.br/index.php/component/content/article?id=3008.