Trade Between Brazil and the United States Reaches Over 88 Billion Dollars in 2022

Written by Bruno Teles

Published on 18/01/2023 at 21:21

Comércio entre Brasil e Estados Unidos (Foto/divulgação)

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Trade Between Brazil and the United States Reached US$ 88.7 Billion in 2022, US$ 18.2 Billion (25.8%) Above the Previous Record Set in 2021.

According to data released by AmCham Trade Brazil-U.S., “The unprecedented results of all key indicators of bilateral trade indicate a moment of dynamism in the economic relations between the two countries, as well as the increasing relevance of U.S. foreign trade with Brazil,” said Abrão Neto, the new CEO of the American Chamber of Commerce in Brazil, which brings together around 4,000 companies.

Trade Between Brazil and the United States Is Above Average

Monitoring shows that the performance of Trade Between Brazil and the United States is above the average level of Brazilian foreign trade. Brazil’s exports to the world increased by 19.3%, while exports to the United States rose by 20.2%. Brazil’s total imports grew by 24.3%, while purchases from the United States increased by 30.3%. As a result, North America’s share in Brazilian networks rose to 14.6%, the highest level since the beginning of the pandemic.

For 2023, a certain stabilization of bilateral flows is expected, with values close to last year’s record. Both countries have significant opportunities, for instance, in the green economy and supply chains. However, Abrão Neto added that it is essential to monitor the evolution of the global economic and geopolitical situation, which remains fluid and could alter these expectations. Despite the historic value of bilateral chains, Brazil also recorded an unprecedented negative balance of US$ 13.9 billion, an increase of almost 70% compared to 2021.

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Imports and Exports

Brazilian imports from North America reached a record US$ 51.3 billion in 2022, an increase of 30.3% compared to the previous year. An average price increase of 35.6% largely explains this rise, especially for fertilizers, fuels, and coal.

In turn, Brazilian exports to the U.S. increased by 20.2% compared to 2021, reaching an unprecedented value of US$ 37.4 billion, driven by higher prices and greater export volumes, which occurred in 7 major countries and 10 items shipped to the U.S. Despite the record bilateral trade, Brazil also recorded an unprecedented deficit of US$ 13.9 billion, an increase of almost 70% compared to 2021.

Trade Between Brazil and the United States Reaches Over 88 Billion Dollars in 2022

Trade Between Brazil and the United States Reached US$ 88.7 Billion in 2022, US$ 18.2 Billion (25.8%) Above the Previous Record Set in 2021.

Trade Between Brazil and the United States Is Above Average

Imports and Exports

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Trade Between Brazil and the United States Reaches Over 88 Billion Dollars in 2022

Trade Between Brazil and the United States Reached US$ 88.7 Billion in 2022, US$ 18.2 Billion (25.8%) Above the Previous Record Set in 2021.

Trade Between Brazil and the United States Is Above Average

Imports and Exports

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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