LatinNews Daily - 02 March 2022

In brief: Slow recovery for Brazil’s high-tech exports

* Brazil’s medium and high-tech exports have not recovered from the impact of the coronavirus (Covid-19) pandemic. A report by the Confederação Nacional da Indústria (CNI) business lobby, accessed by national daily O Globo, shows that higher value-added and innovation exports fell 3.4% in 2021, compared with 2019, the last year before the pandemic hit – this amid a scenario of booming exports overall, with the value of Brazil’s exports buoyed by the rise in commodities prices. The value of medium and high-tech exports – defined by the CNI as exports from the aeronautical, chemical, pharmaceutical, electronic, and machinery sectors – totalled US$39.8bn in 2021, down from US$41.2bn in 2019. The CNI explains this by the fact that the manufacturing sector relies on the imports of components, which were affected by disruption in global supply chains; by the muted economic performance in Latin America, the main market for Brazil’s high- and medium-tech exports; and by Brazil’s medium and high-tech manufacturing sector’s lack of competitivity on the global market.

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