A survey released today (Aug 1) by the Foreign Trade Association of Brazil (AEB) shows a resumption in positive trade results between Brazil and the rest of South America from 2021 onward, following with the easing of the COVID-19 pandemic.
Signed in 2019, the Mercosur–EU agreement must be approved by the Parliaments of the countries in both blocs before becoming effective. Environmental and climate issues, however, have blocked its progress.
In addition to increasing exports to Brazil, China started selling more and more sophisticated goods, moving ever further away from its image as an exporter of industrialized goods with low complexity levels.
Brazil’s balance of trade reports a surplus of $3.7 billion in November—the third highest result for the month. In 11 months, the positive balance surpassed $51 billion.