The accumulated value of Brazilian goods exported to the UK in the first half of 2022 totalled £1.3b, the highest amount registered by the half-year mark since 2014, and more than in the entirety of 2019 (£710.18m) – according to the H1 2022 Europe Trade Monitor report from ApexBrasil, the Brazilian Trade and Investment Promotion Agency.
Meanwhile, Brazil imported £926.34m of British goods in H1 2022, resulting in a total Brazil-UK trade flow worth £2.23b. This is a +9% increase in bilateral trade flows compared to H1 last year.
Comparatively, Brazil exported €22.86b of goods to the EU during the first half of 2022, the highest levels registered since data collection began in 1997. In Q2 2022, Brazilian exports to the European Union reached €12.9b, an increase of +34.3% compared to Q2 2021.
Furniture worth £23.1m was imported, a -12% decrease on H1 2021. While the total value of all furniture and related products exported to the UK fell in comparison to the first half of 2021, the UK was the single largest importer of Brazilian furniture across Europe – responsible for 42% of overall sales to the EU+UK group.
Igor Celeste, ApexBrasil’s market intelligence department manager, comments: “The UK is a strategic market for Brazil and we see great value in working with our British partners to advance trade across a wide range of sector areas, including agri-food and industrials.
“We’ve had a constructive year working with the UK market, having facilitated several trade events on British soil throughout the year that have brought together experts, dignitaries, and trade representatives. We’re pleased to achieve these results in what is already turning out to be a successful year for 2022.”
