According to figures released by Assintecal, the Brazilian Association of Companies of Components for Leather, Footwear and Manufactured Goods, exports grew 23% in 2016 compared with the previous year, reaching US$ 269.4 million. The positive performance is attributed to the ‘By Brasil Components and Chemicals’ export project, a promotional initiative to encourage exports, led by Assintecal together with the Brazilian Trade and Investment Promotion Agency (Apex-Brasil).

Brazilian companies participating in the project, which currently accounts for 41.3% of the country’s total exports in the components sector, shipped their products to over 78 different buying countries, with neighbouring Argentina as the top buyer followed by India, Germany and Mexico.

“It is also worth noting that virtually all markets targeted by the project increased their imports of Brazilian goods”, said Assintecal in a statement, with Germany, Argentina, Paraguay, and U.S. registering the biggest increase in demand in value terms.