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The mood in Brazil is anything but optimistic at the moment. Millions have taken to the streets to protest corruption as exemplified by the ongoing Petrobras scandal. The economy looks stagnant again. Red tape is still one of the top concerns for companies looking at the market.
But somehow, Georgia’s exports to the nation still climbed by nearly 20 percent last year, helping it advance one spot to become the state’s sixth largest export market and making it the third fastest-growing export destination behind South Korea (54 percent boost since last year) and Germany (21 percent).
The state’s statistics didn’t offer a breakdown, but the numbers could reflect the sheer size of Brazil’s industrial base: Consumer incomes may not be growing like they once were, but big companies like jet-maker Embraer are still using the industrial inputs Georgia firms produce. The state’s top five categories were: aircraft, machinery, vehicles, electrical machinery and paper/paperboard.
Georgia’s overall exports grew by about 5 percent to $39.4 billion in 2014.
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See the full summary of the state’s trade stats here. Highlights here.