RIO DE JANEIRO, BRAZIL - The Getúlio Vargas Foundation's (FGV) Foreign Trade Index (Icomex) data for September reinforced a long-standing trend: the increased share of commodities in Brazil's exports. In the month, 69.7% of all exports were of commodity-related products.
The value was the highest since records began in 1998, with soy, oil and iron ore accounting for over 40% of exports. According to experts, the scenario reflects a rising global demand and benefits Brazil.
However, it also poses challenges. The first is to address the growing loss of share of the manufacturing industry. Moreover . . .