Market Diversification Boosts Brazilian Exports

Exports shipped to countries such as Trinidad and Tobago, Poland, and Algeria, with which Brazil had no trading tradition, earned over US$ 4 billion in 2004.

According to the secretary of Foreign Trade of the Ministry of Development, Ivan Ramalho, the addition of these new markets to Brazil’s list of foreign trade partners constituted a significant change in the country’s export profile.


“We experienced a powerful process of market diversification. The biggest export increases in 2004 occurred in sales to non-traditional markets, such as the Middle East, Eastern Europe, the Caribbean, and some African countries,” he affirmed.


According to Ramalho, the United States, which has historically been the largest buyer of Brazilian products, accounted for “only 20% of what the country exported.” “The other 80% now goes to scores of other countries,” he explained.


Another significant change in Brazil’s export profile, Ramalho highlighted, was the addition of 600 new products to the country’s export list, which is made up of 7,100 items.


40 years ago, 93% of what Brazil exported consisted of non-industrial raw materials, such as ore and grains, or semi-manufactured goods with little added value, such as soybean meal and timber.


Only 6% represented manufactured products with high added value, such as tractors and airplanes.


Currently, approximately 45% of the country’s exports is composed of raw materials and semi-manufactured goods, while 55% are manufactured products.


The items that experienced the highest rates of growth were aircraft (66.6%) and tractors (90.4%).


The Brazilian record in terms of the percentage of manufactured goods exported was in 1993, when 59% of the country’s exports represented this category of products.


The chief regions to which Brazil’s exports increased in 2004 were the Mercosur (57.1%) – to Argentina alone the growth amounted to 61.7%); the ALADI (Latin American Integration Association, made up of Argentina, Bolivia, Chile, Colombia, Cuba, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela), with a 48.8% growth rate when it comes to the non-Mercosur members; Africa (48.4%); the Middle East (31.4%); the European Union (30.9%); Asia (24.7%); Eastern Europe (22.7%); and the United States (20.4%).


Translation: David Silberstein
Agência Brasil

Tags:

You May Also Like

Brazil Expecting 7.18% Growth This Year

The latest weekly market survey by Brazil’s Central Bank shows that the market continues ...

4,300 Inmates to Get Literacy Instruction in Brazil

The Literate Brazil (Brasil Alfabetizado) Program plans to impart literacy instruction this year to ...

Why Brazilians Should Elect Dilma Rousseff the Next President of Brazil

A little over four years ago, in September 2006 “Brazzil” published one of my ...

Brazil Justice Orders Boy Returned to Father in US. Stepfather Appeals

Sean Goldman, 9, the US-born boy whose Brazilian mother took him to live in ...

Brazilian Airline Gol Gets Prize and US$ 50 Million Loan

Brazilian leading business magazine Exame has awarded Gol Airlines with its Melhores e Maiores ...

Brazil Goes on the Offensive to Contain “Melting” Dollar

Brazilian market analysts project that by the end of the year the dollar should ...

Brazilians from the Northeast Live on a Third of Water Needed by a Human

The amount of fresh water available on an annual per capita basis to residents ...

After 2-Year Hiatus, Brazil Getting Ready to Hold Oil Rights Auction

Brazil will hold a 13th round of oil rights auctions in the first half ...

Brazil Plans to Harvest 121 Million Tons of Grain

The first study of sowing intentions for the Brazilian 2006/2007 crop, disclosed in Brazilian ...

In Brazil Our Solutions May Be Creative, But They Are Also Stupid and Unjust

Brazil is a country that is highly creative in social politics, finding ways to ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`