Portuguese exports to Brazil rose by 23.3 percent in the first quarter of this year compared to the same period of last year, according to figures from Brazil’s Ministry for Development, Industry and Trade (MDIC).

Between January and March Brazil imported goods worth US$288.2 million and exported goods to Portugal worthUS$106.8 million, which was a drop of 41.4 percent against the same period of 2013.

In 2013 Portugal exported goods worth US$1.09 billion to Brazil.

Over 17 percent of the goods imported by Brazil from Portugal were olive oil followed by industrial ovens (14 percent). Copper sulphate (7.5 percent), salt cod (8.4 percent), aircraft and helicopter components (6.5 percent), and pears (almost 5 percent) were the other products with a relevant weight in Portugal’s sales to Brazil.

Soy was the main product exported from Brazil to Portugal with 9 percent of the total followed by resin acids with 8.9 percent and industrial wire, engine parts, sugar cane, coffee and leather.

Two-way trade in the first quarter totalled US$395 million, which was 5 percent less than in the same period of last year.

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