Following a sharp decline in the first year of the pandemic, trade between Brazil and the United States regained momentum in 2021, reaching a historic high of US$ 70.5 billion. The data come from the most recent edition of the Brazil-US Trade Monitor, a quarterly reference publication by Amcham Brasil on the two countries’ trade relations. The United States remained Brazil’s second most important trading partner of goods in 2021, accounting for 14.1% of total Brazilian trade. Brazil’s bilateral trade balance was negative by $8.3 billion, the largest deficit in bilateral trade since 2013. Brazilian exports to the United States grew 45% compared to 2020 and reached a record US$ 31.1 billion, driven by the increased American demand and higher prices in sectors such as steel and oil. “The record seen in imports was the result of current issues, specifically the water crisis and the pandemic,” says Abrão Neto, executive vice president of Amcham Brasil.
Source: Datamar News