After US-Brazil bilateral trade grew to a record in 2021, the American Chamber of Commerce (Amcham Brazil) had initially been expecting a more moderate pace in 2022. However, the data from the first quarter struck positively, reinforcing the view that trade can still reach new records this year despite uncertainties. Between January and March 2022, the sum of exports and imports, aka the trade flow, reached US$ 19 billion, an increase of 40.2% compared to the same period in 2021. It was the highest value registered for the first quarter since 1989. Brazilian exports to the US grew 35.9% in the first three months of 2022, compared to the same period in 2021, reaching US$ 7.6 billion. Brazilian purchases from the US totalled US$ 11.4 billion, up 43.2%. In absolute terms, the largest participation was in crude oil, whose sales, representing more than 10% of total exports to the US, grew by almost 167%. The Brazilian demand for other US energy products, such as fuel and crude oil and coal, remained high in early 2022.
Source: Valor Econômico/Datamar News