Brazil-Slovakia trade jumps 20% in 2018

Data provided by the Slovak Statistical Office points out that Brazilian exports to Slovakia have increased 42% in 2018, reaching the amount of EUR 85.9 million. High on the list were mineral products (iron ore; ferro-niobium; steel tubes),manufactured items (air pumps; semiconductor devices; insulin; silicon; autoparts), food (fruits; coffee; soybeans) and also leather. On the other hand, Slovak exports to Brazil have risen by 0.6% to EUR 72.7 million, with industrial products like auto parts, electric motors, wires and thermostats leading the list.
The strong growth of bilateral trade last year is an indicator that transactions are still far below its potential, particularly in view of the overall trade of Brazil with the world. Brazilian global exports totaled US$ 239.5 billion (+9.6% over 2017),while imports totaled US$ 181.2 billion (+19.7%). The Brazilian government plans to increase foreign trade to GDP ratio with the implementation of liberalizing measures and the negotiation of bilateral agreements.
Brazil is a major exporter of many items that could be more intensively traded with Slovakia, such as footwear, apparels (beachwear for example), auto parts,airplanes, construction tools, agriculture machines, wood pulp and paper,aluminium, cocoa paste, poultry, liquors and furniture.
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