Brazilian goods exports to Europe continued to rise in terms of value in the third quarter of 2021, to the European Union by 44.1% compared to the same period last year for a total of US$10.1 bn (£7.3bn) , and to the UK by 8.5% for a total of US$ 801.4m (£581.3m). The exports are Brazil’s highest for a third quarter to the EU since 2013, and to the UK since 2014, which means the country is on course to record its first annual trade surplus with the EU since 2011. This means that Brazil has recorded a goods trade surplus with the EU of $471m (£341.6m) in Q3, which is the highest for a single quarter since 2011. Brazil registered a quarterly trade surplus with the UK of $110m (£79.7m).
Apex-Brasil has released its quarterly ‘Europe Trade Monitor’, which reports on the total value of imported and exported of goods between Brazil and the UK and EU. The full Trade Monitor Report can be viewed here, including sector by sector detail and some charts highlighting the direction of trade winds for the third quarter of the year.
The Q3 figures reveal that UK trade is stronger than ever and proof of resilience in a post-pandemic recovery, with exports to the UK being highest by value for a third quarter since 2014, registering a quarterly trade surplus with the UK of £79.7m. Compared to the same period last year, the total value of Brazilian exports to the UK increased by 8.5% for a total of £581.3m, owing to demand dominated by artwork, sugar and wood/forest products.
In the third quarter of 2021, Brazilian paper shipments to the EU increased 23% in volume and 21% in price in Q3 2021, when compared to the same period of 2020, resulting in a 49% increase in value (£24.5m). The production of cellulose represents the largest share in the value of forestry in Brazil, which is the third largest sector of exports in Brazilian agribusiness, after soy and meat.
