OECD report states Brazilian foreign trade fell by US$ 14 billion in Q3
Nov, 26, 2020 Posted by Ruth HollardWeek 202049
Data from the Organization for Economic Cooperation and Development (OECD) indicate that Brazil’s foreign trade contracted by US$ 14 billion in the third quarter of 2020, compared to pre-pandemic levels in the fourth quarter of 2019. While Brazilian exports declined US$ 3.8 billion between July and September compared to pre-pandemic levels, imports contracted much more, by US$ 10.2 billion. In the third quarter, exports of Brazilian goods had a modest growth of 1.6% in value and imports, a contraction of 8.9%, in relation to the second quarter. Globally, trade in goods from the largest G-20 economies increased in the third quarter, with exports increasing by 21.6% and imports increasing by 18.1%, compared to the second quarter when lockdown measures were in force. Despite this, the OECD says that preliminary data already point to the return of restrictive measures in several economies, and, with this, negative impacts were seen on the export and import flows in October. Other indicators confirm that a modest economic recovery slowed in the fourth quarter of 2020, with the pandemic continuing to wreak havoc.
The following graphs give a comparison of Brazilian container imports and exports during the first three quarters of 2019 and 2020:
Brazilian Exports Volume Comparison Jan – Sept. 2019/20 | TEU
Graph source: DataLiner
Brazilian Imports Volume Comparison Jan – Sept. 2019/20 | TEU
Graph source: DataLiner (To request a DataLiner demo, click here)
Source: Valor Econômico
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