Brazil drops to fifteenth place within the international business rating, exhibits CNI
- October 21, 2022
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Brazil was overtaken by Turkey and dropped another position in the ranking of the global manufacturing industry. Now, the country is in 15th place among the largest producers in the world. The Brazilian industry, which until the beginning of the last decade accounted for 2% of world production, saw this share fall to 1.28%.
The survey was released this Friday (14) by the National Confederation of Industry (CNI) based on statistics relating to last year from the United Nations Industrial Development Organization (Unido) and the Organization for Economic Cooperation and Development. (OECD).
In the wake of a domestic recession between 2015 and 2016, combined with the loss of space in international markets and the greater impact of the pandemic compared to other countries, Brazil had already been overtaken in the previous six years by Mexico, Indonesia, Taiwan and Russia. It thus ceased to appear among the ten largest industrial producers in the world.
Loss of competitiveness
In the CNI’s assessment, the ranking portrays the country’s loss of competitiveness. The survey released this Friday renews Brazil’s lowest share of global production in the entire historical series, which began in 1990.
Leader in the ranking, China, whose industry accounts for 30.45% of the total produced in the world, increased the distance from the United States (16.76%) a little more amid the context of countries’ recovery from the shock of the pandemic. .
According to CNI estimates, the share of Brazilian products in global industry exports rose from 0.77% to 0.81% last year. Even so, Brazil remains below the pre-pandemic level (0.84% in 2019) and should be surpassed by Indonesia, dropping another position, to 31st place, in the ranking of industrial goods exporters.
“We need a national foreign trade strategy that addresses the old challenges of competitiveness such as bureaucracy and tax residues in exports and, at the same time, expands and improves our networks of trade agreements to avoid double taxation with strategic partners”, comments CNI’s international trade and integration manager, Constanza Negri.
Source: Estadão Content