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Brazil
12.04.24 13:30
Economics

WTO: Brazil improves its export ranking in the world

The ranking is led by China


In its latest report, the World Trade Organisation (WTO) has confirmed that Brazil has moved up to 24th place in terms of world exports in 2023, up from 26th place in 2022.

According to the data presented in the report, Brazil's exports reached US$340 billion last year, accounting for 1,4 per cent of total global trade.

The ranking is led by China, with exports worth US$3,3 trillion, as reported by Toda Palavra, a partner of TV BRICS.

By moving up two positions in the ranking, Brazil reverses the downward trend of its export status in the official WTO classification in recent years. Interestingly, the country lost its position to Saudi Arabia in 2022, but thanks to the increase in oil exports, the Saudis increased their sales by 49 per cent, thus overtaking Brazil.

Despite a modest export growth of 2 per cent, which was better than the global average (down 5 per cent), Brazil's participation in world trade at 1,4 per cent repeated the country's achievements in 2011 and 1984. The media also note that similar results in the global market were registered in the 1950s, when coffee was the main export product.

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