According to Amcham Brasil, Brazilian exports to the US hit a new high of USD 8.7 billion in Q1 2023, an increase of 9% over the same period in the previous year and twice the growth rate of Brazilian exports globally (4.8%). Brazilian imports from the US totaled USD 9.7 billion, falling 15.4% from 2022 to 2019, primarily due to natural gas purchases. Abro Neto, Amcham Brazil’s CEO, claims that “bilateral trade continues to work quite favorably. Following the record-breaking year of 2022, Brazilian exports are still increasing. Except for oil and derivatives, imports saw significant growth in nine out of the ten major products”.
Source: Jornal Cana (*Translated by Ia Niani)