Brazil expands export products and sells more to Asia, IBRE points out

Institutional
07 February 2013

The past year was not as good for the Brazilian trade balance as in the previous years, since it closed at a deficit of R$ 10.4 billion, compared to 2011. In 2012, China, the country's main trading partner, bought 7% less from Brazil, while the Brazilians spent 4.4% more on products made ??in China. However, a closer look at Brazilian exports and imports registered in the previous year shows signs of what may be becoming a good commercial alternative for Brazil. And there is no need to leave the Asian continent to confirm this thesis, observes Lia Valls, a researcher in the Applied Economics Department of IBRE. A research carried out by the team led by the researcher points out that sales to Asian countries, except China and Japan, increased 14.1%. India is the fastest growing market from 2011 to 2012, besides countries like Singapore, Hong Kong, Thailand, the Philippines, Indonesia and Formosa.Today India is the third main market of Brazil in Asia, only behind China and Japan. The deficit of R$ 2.4 billion recorded in 2011 fell to R$ 94 million. The increase in Brazilian exports to India, which may be linked to increased sales of wind products to that country, increased 52% while imports decreased 13%. Moreover, studies conducted by FGV/IBRE also show that there was a diversification in Brazilian exports last year. But Lia warns that this result might be a one-off. It is possible to realize that the list of exports was less concentrated in 2012. However, this was mainly due to the decrease of ore exports and, in turn, the increase in fuel oil exports - which in 2011 represented 18% of the export basket total, and today accounts for 12% - and manufactured goods, such as aircrafts, Lia explains.

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