The historical data from 2013 to 2023 showcases significant volatility in the import of Mineral Fuels, Oils, and Distillation Products to Brazil. The import value peaked in 2013 at 45.808 Billion US Dollars but saw a marked decline thereafter, particularly between 2015 and 2016, with a notable drop of 44.67% in 2015 and a further 39.24% in 2016. Despite some recovery in 2017 and 2018, imports again declined by 17.48% in 2020. For 2023, the value stood at 23.788 Billion US Dollars, reflecting slight decreases compared to the prior two years.
Key points:
- From 2022 to 2023, there was a minimal decline of 0.55%.
- The five-year CAGR from 2018 to 2023 was -1.94%, indicating an overall downward trend.
- Forecasts indicate a progressive reduction in the next five years, with an estimated value of 23.098 Billion US Dollars in 2028.
- The forecasted five-year CAGR shows a marginal decline of -0.47%, suggesting a relatively stable yet decreasing trend.
Future trends to watch:
- Watch for potential policy changes in Brazil regarding renewable energy, which could further impact the imports of mineral fuels.
- Global oil price fluctuations and geopolitical tensions may continue to influence import values.
- Technological advancements in alternative energy sources could contribute to the sustained decrease in imports of these products.
