For sales to Argentina and Paraguay, the spotlight shone on exports of manufactured goods, up 13.7% and 20.2%, respectively. Meanwhile, for Uruguay, the surge in Brazilian currency-denominated exports was propelled by the sale of electrical energy. The European Union emerged as the second-largest destination for exports in Brazilian-issued currency, accounting for 15.6% of the total. Simultaneously, it remains the top destination for exports traded in euros, comprising 61.5% of the total. These insights come from an annual report on trade operations’s currency declarations compiled by Brazil’s Foreign Trade Secretariat of the Ministry of Development, Industry, Trade, and Services (Secex-MDIC). Overall, Brazilian imports using the real as the declared currency grew by 11% in 2023 compared to the previous year, reaching a record US$ 17.3 billion in purchases declared in Brazilian currency.
Source: Datamar News