Rio de Janeiro – Commodities increased their share in Brazilian exports in September. In comparison to the same month of last year, foreign sales of basic goods rose 2.7%, while non-commodities exports dropped 7%, according to data shown this Thursday (11) by Fundação Getulio Vargas (FGV).
According to FGV, year-to-date, finished products registered the lowest percentage share in exports, 35%, since 1980, when FGV began to research foreign trade. Three commodities – soy beans, iron ore and oil – accounted for 31% of exports in this period.
Commodity concentration increased China’s share in Brazilian exports. From January to September, 26.3% of Brazilian exports had the Asian giant as destination. The United States came in second, as the destination to only 11.4% of Brazilian exports.
“In this trade war scenario between the two major destination markets of Brazilian exports, caution is needed by Brazil’s trade policy-makers as to preserve the two markets,” FGV said in a statement.
Translated by Sérgio Kakitani
