Pernambuco exports down 30% due to Argentine crisis

Exports from Pernambuco fell by 30.3% in 2019 compared to 2018. Last year, the Brazilian state sold $1.3 billion, compared with $2 billion in 2018. The drop was steep compared to the 6,4% in national exports. The main reason would be the dependence of the local market on Argentina, the main international customer for Pernambuco products. In 2018, Argentina accounted for 33% of Pernambuco exports, followed by the USA (16%) and the Netherlands (10%).

Source: Jornal do Commercio