According to data reported by CNI, the coronavirus crisis could reduce the number of exports by US$ 18.6 billion in Brazil.
The economic crisis caused by the new coronavirus pandemic in the world may cause a large reduction in the number of exports in Brazil. The projected number is at least US$ 18.6 billion, according to information from the National Confederation of Industry (CNI). This is equivalent to 8,25% of the US$ 225.4 billion that was exported by the country last year.
The institution projected this initial data based on the estimate that the global Gross Domestic Product (GDP, sum of goods and services produced) will reduce by 1.1% in 2020.
In terms of volume, the coronavirus pandemic will likely lead to a decrease in the amount exported by 56 million tons. A drop of 11% compared to the year 2019.
The Foreign Trade Secretariat of the Ministry of Economy had informed yesterday (1), that the resumption of Brazilian exports after everything returns to normality will occur slowly. This will happen due to low demand across the planet. With the pandemic, several countries are adopting measures to reduce the movement of people, such as social isolation, closing borders and non-essential activities.
In a note, the CNI highlighted that the projection is preliminary because the balance sheets are based on a scenario of extensive global recession. This survey does not concern exports to specific markets, as they still do not have separate data by country or region. The institution, however, informed that the impact on industrial exports will depend on the measures taken by other Latin American countries, which are the main destinations of Brazilian manufactured goods.
Number of infected grows in Brazil
The coronavirus pandemic is growing in Brazil. Until today (2), 299 deaths from covid-19 and 7,910 confirmed cases have been recorded. According to the most recent bulletin from the Ministry of Health.
This Thursday (2), 1,074 new confirmed records of Covid-19 were recorded. The Minister of Health, Luiz Henrique Mandetta, said at a press conference that there is no shortage of protective equipment, such as masks, gloves and respirators, in Brazilian states, even with the difficulty, reported by him the day before, of obtaining the purchase of these products from suppliers. from China. “All our states have a good level of supply,” said the minister.
