Brazilian mineral exports totaled US$11.62 billion in the third quarter of this year, which indicates a retraction of 36.8% in relation to the same period last year.
Compared to the previous quarter of 2022, there was an increase of 0.4%.
Imports totaled US$ 4.77 billion in the third quarter of this year, with an increase of 86.7% over the result verified in the same quarter of 2021. Compared to the second quarter of 2022, the drop reached 23.2%.
The numbers were released today (20) by the Brazilian Mining Institute (Ibram).
The mineral balance (the difference between mineral exports and imports) is 51% of Brazil’s balance in the third quarter of 2022, representing US$13.4 billion.
In relation to the second quarter, there was a 56.4% drop in dollar terms.
The director of Sustainability and Regulatory Affairs at Ibram, Julio Nery, attributed this sharp drop in imports to the increase in the international price of mineral commodities, especially potash, due to the war in Ukraine.
Potash represents excellent potential in Brazilian imports. The increase in the exchange rate also contributed to the reduction in purchases abroad.
Mineral exports to China, Brazil’s leading buyer, dropped 43.6% in value compared to the third quarter of 2021 and increased by 2.9% in tons.
Compared with the second quarter of this year, there was an expansion of 34.3% in tons and 6.9% in value.
IRON ORE
Iron ore, the main product of the sector exported by Brazil, had a price reduction of 37.3% in the third quarter of 2022, compared to the same period last year, and a drop of 25.8% compared to the second quarter of this year.
Ibram’s data show that, except nickel and zinc, the other mineral commodities also show lower prices than in the third quarter of 2021.
Regarding the exports of iron ore, in particular, the drop in value reached 44.7% in the third quarter compared to the same period last year.
There was also a retraction in value of 3.2% compared to the second quarter of 2022.
In terms of tons, an increase of 1.5% and 23.3% were recorded. Iron ore exports corresponded to 70.5% of Brazilian exports in dollar terms.
In tonnage, Brazil’s reduction in mineral imports reached 20.5% in relation to the third quarter of last year and 23.3% compared with the second quarter of this year.
There was also a significant increase in value in potash imports compared to the third quarter of 2021, on the order of 132.96%, according to Ibram.
Potash accounted for the largest share of mineral imports (62.1%), followed by coal (24.3%).
With information from Agencia Brasil