LatinNews Daily - 16 June 2020

* The Brazilian economy institute (Ibre) at the Fundação Getulio Vargas (FGV) university in São Paulo has released the May data of its monthly foreign trade indicator (Icomex), which outlines how Brazilian exports have become increasingly reliant on the sale of commodities to markets in Asia, confirming a trend observed in April. Even as the value of commodities has fallen, the volume of exported commodities grew 23.5% in May year-on-year. Commodities accounted for 71% of Brazilian exports in May, with an important year-on-year increase in the volume of exports from the agro-sector in particular. Meanwhile, 32.5% of Brazil’s exports were destined for China in May, with China and the rest of Asia the only foreign markets to have seen a positive variation in export volumes in January-May this year, compared with 2019.

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