Industry exports from Rio Grande do Sul grow US$ 3.05 billion in 2022

Exports from the manufacturing industry in Rio Grande do Sul showed a growth of 21.7% in 2022 compared to the previous year, which represents US$ 3.05 billion more. The increase is mainly due to the rise in prices of exported products (+12.9%), which increased above the quantity exported (+7.7%). Comparing specifically with the pre-pandemic period (2019), there was a 37.4% growth in foreign sales. The quantities exported, since then, increased by 11.3%, while prices grew by 23%. It is worth noting that 16 of the 23 sectors increased foreign sales, with 20 sectors surpassing the pre-pandemic level in 2022.

In the month of December alone, exports from the processing industry in Rio Grande do Sul totaled US$ 1.46 billion, up 2.2% compared to the same month in 2021. The figures were released this Thursday by the Federation of Industries of Rio Grande of the South (Fiergs). “The good result for the year mainly reflects the increase in product prices, a movement influenced by the growth of the world economy last year. For 2023 we still have some uncertainties, especially due to the expectation of a slowdown in global economic activity, in response to the increase in international interest rates”, emphasizes the president of Fiergs, Gilberto Petry.

The sector that most stood out, in the accumulated from January to December 2022 compared to the same period of 2021, was Food (+US$ 1.32 billion | +29.1%), with India (+US$ 294, 7 million), Spain (+US$ 272.9 million) and Vietnam (+US$ 46.2 million) as destinations with the highest increases in the year. Exports of crude soybean oil, the main product demanded by the Indian market, increased by US$ 340.9 million in the period. As for the demands from Spain and Vietnam, the main product demanded was Soybean Meal (+US$ 168.1 million and +US$ 98.6 million, respectively). The main explanation for the increase in demand for soybean meal was the drought that hit Spain in July 2022. According to the country’s institutions, this was the worst drought in 1,200 years.

The Tobacco sector showed a nominal increase of US$ 946.7 million in 2022, an increase of 78.3% compared to 2021. The main shipments in the sector were concentrated in Belgium (+US$ 294.7 million) and China (+US$ 272.9 million). The product most demanded by these commercial partners was tobacco leaves, increases of US$ 294.7 million and US$ 272.9 million, respectively. Quantities exported by the sector increased by 36.8% in the period, while prices increased by 30.5%. The sector’s relative increase, comparing December 2022 with the same period of 2021, was US$ 174.6 million, an increase of 174.3%.

And, finally, the third sector that most stood out in the year, Motor vehicles, trailers and bodies, presented a nominal increase of US$ 439.0 million, an increase of 65.3%. The main products demanded by the sector – Automobiles (+US$ 167.7 million), Chassis and bodies for motor vehicles (+US$ 88.3 million) and Auto parts (+US$ 87.9 million) – presented Colombia (+US$ $67.1 million), Argentina (+$62.4 million) and Chile (+$60.8 million) as final destinations, respectively. The main justification for the annual increase is due to the fact that Colombia and Argentina had a heated domestic market for most of last year. The quantities exported by the sector were the main responsible for the annual increase, with an advance of 33.6% compared to the accumulated of 2021, while prices grew by 24.2%.

On the other hand, Rio Grande do Sul imported US$ 15.7 billion in foreign products, which represents an increase of US$ 4.01 billion in imports in 2022. The main origin of imported products were: United States (+US$ 1.15 billion), Argentina (+US$605.8 million) and Russia (+US$508.4 million). With regard to sectors, there was an increase in imports of Oil and gas extraction (+US$ 1.56 billion), Chemicals (+US$ 916.4 million) and Coke and oil derivatives and biofuels (+US$ 632.4 millions). Most of the increases in imports are related to fuels, Petroleum oils (+US$ 1.48 billion) and Fuel oils (+US$ 372.1 million), and Potassium chloride (+US$ 404.0 millions). In December 2022, comparing with the same period of 2021, it appears that the sum of imports reached US$ 1.66 billion, setting up a nominal advance of US$ 706.6 million (+73.9%).