Brazil has the 3rd biggest drop in trade among G20 countries, according to the OECD

The total of Brazilian exports and imports in the first quarter of 2019 contracted by US$ 6.9 billion when compared to the previous quarter, according to the Organisation for Economic Co-operation and Development (OECD).

Exports in the first quarter of 2019 were US$ 58.6 billion compared to US$ 62.6 billion in the fourth quarter of 2018. Imports were US$ 42.4 billion, compared to US$ 45.2 billion in the previous quarter.

Brazil falls in ranking of WTO exporters

The annual report of the World Trade Organization (WTO) indicated that Brazil has fallen from 26th to 27th in the ranking of the world's largest exporters.

The report was released yesterday. According to the Ministry of Economy of Brazil, in 2018, Brazilian exports totaled US$ 239.523 billion. In 2017 this number was US$ 217.739 billion.

Brazil was overtaken by Vietnam, which became the 26th largest exporter on the planet.

In general, commodities continue to hold the balance of Brazilian exports. The leader of the WTO ranking in 2018 was China, followed by the United States (2nd place) and Germany (3rd place).

In 2018, Brazil also fell in the ranking of world competitiveness made by the World Economic Forum. The country was in 72nd position, behind nations like Armenia, Bulgaria, and Romania. In 2017, the Brazilian economy was the 69th most competitive in the world according to the same ranking.

The surplus of the Brazilian trade balance falls in March

The surplus of the Brazilian trade balance dropped from US$ 6.24 billion in March 2017 to US$ 4.99 billion in March 2019. This is the worst result for the month of March since 2016.

This drop of 22.3% is linked to the crisis in Argentina, Brazil's main trading partner in South America and a major buyer of Brazilian manufactured goods.

Some of the Brazilian products hit hardest by the fall in March are cargo vehicles (68.2%), passenger cars (41.4%) and auto parts (31.4%).

The Brazilian surplus of March 2019 is a result of US $ 18.120 billion in exports and US$ 13.130 billion in imports.

The product most exported by Brazil in the period was raw cotton, which had a 123.6% increase in exports.