Imports of iron and steel products generated US$9 billion in Brazil in 2023, registering an increase of US$944 million compared to the previous year. In percentage terms, the growth was 12%. The data was collected by Vixtra, a foreign trade fintech, based on information provided by the Secretariat of Foreign Trade.

Large parts of these imports come from China. From January to December 2023, the country in question was responsible for supplying 39% of the iron and steel products that arrived in Brazilian territory, followed by Germany with 9%, the United States with 8%, and Italy and Japan, both with 4%.

These materials are essential for several key sectors of the Brazilian economy, such as civil construction, infrastructure, manufacturing and basic industries. Therefore, the increase in imports may be a reflection of the continued growth of these segments in the country.

(Source: Minera Brasil, on 22 January)