Trade between Brazil and US worsens in 11 years – economy

Trade between Brazil and US worsens in 11 years - economy
Olhar Digital Copywriting

The negative effects of the epidemic led to the collapse of trade relations between the countries

Business exchange between Brazil
e To us
In 2020 it recorded the worst sign in 11 years. The combined trade flow of US $ 45.6 billion in exports and imports fell by 23.8% in 2019 and This is the smallest result of the 2009 financial crisis
. From data US-Brazil Trade Monitoring
, Released on Thursday (21) Amcham (American Chamber of Commerce)
.

Adverse effects caused by infection Govit-19
And fall International oil prices
Factors that contributed most to the contraction of bilateral exchanges last year. Both exports and imports will have a major impact in 2020.

Brazilian sales to the United States fell 27.8% year-on-year to a total of $ 21.5 billion. Purchases of U.S. products, valued at US $ 24.1 billion, fell 19.8% compared to 2019. Brazil had a deficit of $ 2.6 billion with that country.

According to Amcham’s Vice President Aprio Neto, 2021 is all about restructuring bilateral relations and restoring trade and investment flows. Despite the decline in bilateral exchanges, performance was better than in 2009, when transactions shrank by 55%.

“The main challenge will be to prove that the interests of Brazil and the United States are united, and if the two countries work together, we will be very successful in achieving them, especially in the area of ​​the environment,” he said.

After all, he pointed out that trade between Brazil and the United States is made up of more and more value-added products. The industrialized have been hit hardest by the global crisis.

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Amcham believes that with the improvement of the vaccine and the resumption of economic activity in the United States, Brazilian exports to Americans should increase throughout 2021. Forecasts by international companies indicate the most prosperous year for the economy: Step International Monetary Fund (IMF)
, The US economy is expected to grow 3.1% this year. As for international trade World Trade Organization (WTO)
It estimates 7.2% growth in 2021.

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