Notícias
BILATERAL TRADE
Brazil-US bicentennial: new study examines bilateral trade
In celebration of the 200th anniversary of diplomatic relations between Brazil and the United States, the Foreign Trade Secretariat of the Ministry of Development, Industry, Trade and Services (Secex-MDIC) and the American Chamber of Commerce (AmCham) signed a memorandum of understanding on Tuesday (May 21) in São Paulo for the development of an unprecedented study about bilateral trade and investment.
The study will examine trade in goods and services, tariff composition, non-tariff barriers and the socioeconomic impact of Brazilian exports to the United States, with data on income generation, gender, impact on city and state economies and other variables.
Brazil and the United States are about to celebrate 200 years of diplomatic relations next Sunday, May 26. On this date, in 1824, the US recognized Brazil's independence, establishing political, economic and cultural ties that have grown stronger over two centuries.
"The United States stands out as our leading economic partner when we add up our trade in goods, services, and investments," says MDIC Foreign Trade Secretary Tatiana Prazeres. "It is the main destination for Brazil’s exports of manufactured products and an important source of inputs for our industrial competitiveness. In addition, a significant number of small companies and regions are engaged in exports to the United States."
According to Prazeres, closely examining the partnership with the AmCham will help identify opportunities to further strengthen the bilateral relationship.
"This memorandum of understanding represents a significant milestone in our 200-year partnership with the United States. It highlights our commitment to promoting high value-added trade and exploring new areas of cooperation," said Abrão Neto, AmCham-Brazil’s CEO.
BILATERAL TRADE - In 2023, total trade in goods between Brazil and the US exceed USD 75 billion. The United States is Brazil’s second largest export market, after China, and the third largest source of foreign products to Brazil, accounting for 15.8% of total Brazilian imports. The bilateral relationship is also significant in the services and investment sectors.
According to the Brazilian Central Bank, Brazil received USD 10 billion in direct investment from the United States in 2023, with a total stock of 91.9 billion invested over the last 10 years. By 2022, the total stock of US investments in Brazil stood at USD 229 billion.