Brazilian exports grew well above the world average last year, after falling for five years in a row. Data released by the World Trade Organization (WTO) show that Brazil’s foreign sales reached 17.5% in 2017, while the world average stayed at 10.6%.

According to the report, Brazil is one of the top ten exporters in the world – the sixth largest, in fact. In terms of foreign trade share, Brazil has had the highest score in four years: 1.23% of all global trade.

Growth factor

According to the minister of Industry, Foreign Trade and Services, Marcos Jorge, these results show how vital foreign trade is for the Brazilian economy. “There is a consensus that foreign trade is one of the key drivers of our economic growth”, he stated.

He added that the Brazilian government seeks to improve and expand Brazil’s reach to even more foreign markets. “Brazil’s global integration will result from the international insertion and trade facilitation measures”, he explained.

Source: www.brazilgovnews.gov.br