Brazil Exporter Guide 2021

Country:
Brazil

Report Highlights:
Brazil’s economy was forecasted to suffer a sharp drop in 2020; however, the decline was far less than expected. Gross Domestic Product (GDP) declined 4.1 percent, reaching $1.4 trillion. Looser quarantine measures and fiscal transfers implemented by the federal government contributed to this result. In 2020, the depreciation of the Brazilian currency, of approximately 30 percent, was expected to provoke a significant decrease in imports of agricultural goods. However, the drop in imports of consumer-oriented products was relatively mild, 4.3 percent. On the other hand, imports of intermediate products expanded by 12 percent, driven by the high demand of domestic and foreign markets.

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