Brazil: Exports from Bahia break historic record in October and grow 4.5%, driven by rising prices

Published 2024년 11월 13일

Tridge summary

In October 2024, Bahia's exports reached a record high of US$1.14 billion, an increase of 4.5% from the previous year, despite a drop in Brazilian exports of 0.74%. The growth was primarily due to a 6.5% increase in the prices of exported products, despite a 1.8% decrease in volume. The main contributors to this growth were cellulose, gold, minerals, cocoa derivatives, and coffee, which accounted for 31.4% of total exports. China and the United States were the leading destinations for Bahian exports. Imports in October also saw significant growth, totaling US$ 955.5 million, a 39.6% increase from the previous year, largely driven by the fuel sector. Overall, Bahia's foreign trade performance highlights its role in Brazil's economy and shows a positive outlook for economic recovery.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Exports from Bahia reached a new all-time high in October 2024, totaling US$1.14 billion, an increase of 4.5% compared to the same month of the previous year. In contrast, Brazilian exports registered a drop of 0.74% in the period, according to an analysis by the Superintendence of Economic and Social Studies of Bahia (SEI), based on data from the Foreign Trade Secretariat of the MDIC. Bahia's growth was driven mainly by the average increase of 6.5% in the prices of exported products, despite a slight drop of 1.8% in the volume shipped. Among the products that contributed most to the positive performance are cellulose, gold, minerals, cocoa derivatives and coffee, which together accounted for 31.4% of the total exported by Bahia in October. China and the United States lead destinations for Bahia's exports China consolidated its position as the main market for Bahian products, with an 8.7% growth in exports in October. North America also stood out, with a 50.7% increase in sales, ...

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