Brazilian Exports Reach New Heights: US Lifts Barriers, Fuels Record-Breaking Trade Balance

The Vice President and Minister of Development, Industry, Trade, and Services (MDIC), Geraldo Alckmin, revealed in a press conference held in Brasília on Friday (5/1) that the United States has lifted restrictions (anti-dumping rights) on Brazilian steel pipe exports. According to Alckmin, these limitations resulted in a significant increase of 103.4% in the prices of national exports, marking the fourth anti-dumping right removed since 2022.

The U.S. decision, in effect since 1992, was officially overturned on Thursday (4/1), as reported by the MDIC. During the press conference, Alckmin emphasized that this removal is a significant achievement for the country, enabling an expansion in Brazilian exports.

The Vice President’s statements were made in the context of the release of Brazilian trade balance data, which reached a record of US$ 98.8 billion. This figure represented a growth of 60.6% compared to the 2022 balance, establishing the highest number recorded in the historical series that began in 1989, as revealed during the press conference.

Highlighting the positive economic performance of 2023, Alckmin included aspects such as the approximately 3% growth in Gross Domestic Product (GDP), reduced unemployment, increased stock market values, and a decrease in Brazil’s risk, interest rates, and the exchange rate. He considered these indicators as advances in the first year of President Lula’s government.

In the realm of foreign trade, the Vice President emphasized the “good results” achieved, even in the face of falling commodity prices in the international market. He pointed out that the country surpassed records both in volume and revenue, with an expansion ten times greater than the world average in export volume. According to Alckmin, these results contribute to the economy, international reserves, and represent a significant surplus.

Regarding projections for this year, Alckmin expressed optimism, indicating an expectation of even greater growth, aiming for a new record of US$ 348 billion in exports, compared to the US$ 339.7 billion recorded in 2023.

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