The Brazilian economy is still sick from Covid-19, with sluggish growth and record unemployment. But one sector is in full health: that of exports, driven by the global recovery and the Chinese appetite for raw materials with which the South American giant abounds. In April, the trade balance posted a positive balance of more than 10 billion dollars, an all-time high. A figure which is explained above all by the strong demand for iron ore, necessary for the manufacture of steel. "
The ore has become the first product for export, it has overtaken soy
" and alone weighs 17% of the trade balance, recently welcomed the Minister of Mines and Energy, Bento Albuquerque.
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"
Without a doubt, can we speak of a boom in raw materials,
" observes Mauro Rochlin, Professor of Economics at the Getulio Vargas Foundation, who notes that the price of iron ore has doubled compared to the month of May of last year, certainly at the peak of the pandemic.
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