BRAZIL, Brasilia. Apex-Brasil reported that Brazilian exports in the first half of 2022 had reached the highest values since 1997 with a year-on-year uptake of 34%, totalling €12.9bn. Global exports of meat and meat products increased by 56%.
The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) released its trade and investment overview for the first half of 2022. The accumulated value exported in H1 2022 to the EU reached almost €22.86bn, the highest registered since the beginning of the data series in 1997.
Imports from the EU totalled €9.79bn, 11.8% more than in Q2 2021. Overall trade flows between Brazil, and the EU reached €41.71bn, thus recording a trade surplus of €4.02bn for Brazil and a 26% YOY increase.
The sector of machinery in general and industrial equipment and machine parts increased by 9%, reaching €176.5m, primarily directed to Germany (42%), France (15%) and Italy (15%). Exports to Germany registered a 31% increase.
Meat exports to the EU and UK
Exports of meat and meat products to the EU increased by 56% compared to H1 2021. The total value reached €554.3m, an increase of €198.7m, following a 21% increase in the average price of these products. Most exports were directed to the Netherlands (52%), Italy (14%) and Germany (13%).
Brazilian meat exports to Germany grew by 107% (€37.7m) compared to Q1 2021, with exports reaching €73m in H1 2022. Germany is the fourth largest importer of Brazilian meat in Europe, behind the Netherlands, the United Kingdom and Italy. Germany was the destination of 10% of Brazilian meat sales to the EU and UK in 2022.
According to Apex Brasil, 12% of all Brazilian exports to the UK belonged to meat and meat products, mainly beef, with an increase of 64%, reaching €7.5m. Poultry meat exports recovered after a weak first quarter and already surpassed 2021 exports by 80% in H1 2022.
Source: Apex Brazil