Brazil’s exports to Canada reached a record of over $4 billion in the first nine months of 2023, marking a 5% increase compared to the same period the previous year. This resulted in a positive balance in the bilateral trade for Brazil of $1.491 billion, a 547% jump from 2022. However, the total trade flow between the two countries decreased by 17%, reaching $6.85 billion, compared to the previous year when it exceeded $10 billion. Canadian imports of Brazilian products also declined, especially in the case of fertilizers, which experienced a 50% drop, although they remain the most imported products by Canada, accounting for 61% of total imports.
Source: Canal do Boi / Datamar News