Brazil’s October hide exports totaled US$90.0 million, a decline of 38.9% compared to the same month last year when the total was US$147.2 million, and 15.8% from September.
The data comes from SECEX (Secretariat of Foreign Trade) of the Ministry of Economy and was analyzed by the Center for the Brazilian Tanning Industry (CICB).
As for the total exported in square meters, Brazil shipped 11.9 million in October. That’s 25.2% less than the same month in 2021 and 8.7% less than in September, when the total was 13.0 million square meters.
Exports from January to October totaled US$1.06 billion in value. This is a decrease of 11.5% compared to the same period in 2021, and of 19.5% in area with 120.0 million square meters.
October exports were the worst performance of the year, compared to the same month of the previous year (-38.9%). In total, it was the second worst month in 2022, exceeding only the figure for July. The drop was so intense that, for the first time this year, the value was below that of the corresponding month of 2020, when world was still being impacted by the worst phase of the pandemic. The main segments for Brazilian leather — automotive and furniture — have very low demand because markets are weakened by inflation. High energy costs, added to interest rate increases and currency devaluation, reduce consumer purchasing power and directly impact Brazil’s exports.