* Brazil’s national industrial confederation (CNI), a private sector lobby, has released a new report which has found that the participation of Brazilian manufactures in the global market has increased from 0.59% in 2015 to 0.61% in 2016 as Brazil’s domestic economy experienced a deep economic recession. The report explains that this produced an increase in the sale of Brazilian manufactures abroad as local producers had to place their products in foreign markets to compensate for the loss of domestic demand. The report also notes that this process was helped by the fall in value of the Real against the US dollar. The CNI concludes that the report shows that Brazilian manufacturers can be competitive but that they are hampered by “infrastructure deficiencies, excessive bureaucracy, legal uncertainty, and the complexity of [Brazil’s] tax system”.
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