Study shows CADE’s performance in 2023

On 07 March, the Department of Economic Studies of the Administrative Council for Economic Defense (DEE/CADE) published a working paper on the expected benefits of CADE’s performance in 2023. The sixth edition of the study follows the trend of international antitrust agencies to review and disclose the impacts of their actions.  

CADE estimates that its activities in 2023 amounted to BRL 16.3 billion in benefits. The cases related to unilateral conduct represented about BRL 14.5 billion of the total amount, highlighting the importance of the markets involved and the agreements signed. Mergers also had a positive impact, representing circa BRL 1.2 billion in benefits, and cartel cases amounted to about BRL 563 million.  

The study details cases adjudicated by CADE, the methodology used to calculate the expected impacts, and the sensitivity analysis of the results. It is worth noting that the estimates presented neither include all the effects of the decisions, for instance, the dynamic and dissuasive effects, nor the impact of certain actions promoted by the agency, such as educational and cultural activities related to free competition. These observations reinforce the relevance of the figures obtained, even if the estimates are conservative.  

The disclosure of data is essential to provide transparency to CADE’s performance and it highlights the agency’s commitment to guarantee efficient and fair competition in the Brazilian market. This annual report was written according to the recommendations of the Organization for Economic Cooperation and Development (OECD), and it is an important publication of CADE that contributes to the understanding of the impacts of its activities in the Brazilian economy.  

Access (in Portuguese only) the Working Paper “Mensuração dos benefícios esperados da atuação do Cade em 2023.