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, Mozambi...