THE trade bilateral between Brazil and United States in 2020 it had the worst performance in the last 11 years, according to data from the American Chamber of Commerce (Amcham Brasil) compiled in the study “Brazil-United States Trade Monitor“Trade was US $ 33.4 billion from January to September this year, a contraction of 25.1% compared to the same period last year.
Brazilian exports to the United States were US $ 15.2 billion; if compared to the same period last year, the value is 31.5% lower. American imports were US $ 18.3 billion, which represents a reduction of 18.8%.
The negative balance of US $ 3.1 billion for Brazil consolidates the bilateral deficit for 2020, which may be the worst in the last six years, says the study. Even so, the United States remains Brazil’s second main trading partner, accounting for 9.7% of the country’s total sales, second only to China, whose share rose to 28.8%.
Amcham mentions that the effects of the pandemic, the fall in oil prices and restrictions on trade in sectors such as steel have led to negative trade performance.
The biggest falls in Brazilian exports were in the sale of crude petroleum oils (less US $ 1.4 billion), aircraft (less US $ 893 million), fuel oils (less US $ 773 million) and steel semi-finished products (less US $ 631 million).
On the import side, Brazil decreased purchases of fuel oils (minus US $ 1.7 billion), non-agglomerated coal (minus US $ 450 million) and organo-inorganic compounds (minus US $ 116 million). The fall in imports was concentrated in the third quarter, with a 41.6% reduction in imports. Until the first half, the drop had been 4.4% due to the acquisition of a US $ 1.2 billion oil platform.
Brazilian exports are projected to fall between 27% and 30% by the end of the year; and imports, between 20% and 22%. The deficit for Brazil would be between US $ 2.4 billion and US $ 2.8 billion.