Forecast: Import of Articles of Iron or Steel to Brazil

Between 2013 and 2023, Brazil's import of articles of iron or steel faced significant fluctuations. Starting at $4.5573 billion in 2013, the value dropped drastically to $2.1308 billion by 2016. Some recovery occurred between 2017 and 2019, but the value went down again in 2020. By 2023, the import value stood at $2.3092 billion, reflecting a small year-on-year decline of 0.75%. The five-year CAGR (2019-2023) was -1.22%, indicating an overall declining trend.

From 2024 onwards, forecast data suggest a continued gradual decrease. By 2028, the import value is projected to hit $2.2185 billion, with a forecasted five-year CAGR of -0.63%. The trend from 2024 to 2028 shows a slight but consistent reduction in import values.

Future trends to watch for include fluctuations in global steel prices, Latin American economic policies affecting trade, and Brazil's internal demand for steel articles. Additionally, shifts in currency values and international trade agreements may profoundly impact import volumes.