Brazil to boost its railway exports by 40%

 

Brazil has the potential to become a prominent supplier of railway locomotives in the world. Brazil is working immensely to increase its railway exports. It sets a target of 40% increase in railway exports by 2035. Currently, it stands at 17%. As per the sources, Brazil is seeking investment for new railway projects. Brazil is expecting $36 billion investment from the investors.

Brazil import export data reports suggest that the country's railway locomotive equipment exports increased by 33% in the last fiscal year. Brazil's railway exports were estimated around $48 million during FY 2022. The majority of railway parts exports were made to the USA. Brazil has exported 41% of its railway exports to the United States with worth over $20 million. 

Mauritania was the second largest importer of railway or tramway locomotives parts from Brazil with imports worth over $8 million in FY 2022. Other major exporters were South Africa, Argentina, Chile, France, Venezuela, Peru, Mozambique and Pakistan. A. C. Correa & Cia limited is the leading railway locomotive export company from Brazil accounting for the maximum number of shipments.

On the other hand, Brazil customs data suggest that Brazil’s railway exports declined by 10% this year. 75% of Brazil's exports are mostly made to Argentina, Chile and Colombia. Brazil’s overall railway exports were around $60 million during FY 2022. Chile has shown a positive growth rate for Brazil’s railway exports in that period.

On the other hand, the railway imports declined to 20%. According to Brazil import data reports, the imports were around $98 million during that year. Brazil's 85% of the railway imports came from Argentina. Along with Argentina, Bolivia and Uruguay were other major railway exporting countries to Brazil.

Whereas, the railway parts imports of Brazil were mostly from the United States, China, Germany and India. Brazil import data reflects that Brazil's total railway parts imports were around $65 million in 2022. Furthermore, the imports from France, Argentina, Spain, Mexico and Italy had seen positive growth.

China is the leading market in terms of railway locomotives. China has the most advanced railway technology in the world. Germany is the second leading export market for railway locomotives. Whereas, other major competitors for Brazil railway exports were Austria, Czech, Italy, Spain, Japan, France, Poland and Mexico. On the other hand, the potential export markets for Brazil were the top importers of railway products are the United Kingdom, Australia, Saudi Arabia, Hong Kong, Israel, Switzerland and the United States.

Brazil railway companies can capitalize on the intelligence of Brazil trade data. A data based could help you analyze railway demand, identify product sourcing, minimize financial risk, and discover potential buyers from the world. You can plan impressive marketing strategies to build your railway export business from Brazil to the global market.

Exim Trade Data, a leading global import export data provider company offering valuable international market information. It is the smartest approach through which you could outrank your competition and contribute to the Brazilian economy. It will help you generate more quality business leads at relatively low cost.