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According to the Brazilian Foreign Trade Monitor, the volume of exports grew 3.9% in October this year, this being the third consecutive growth, with this the total volume exported reached the 2nd highest result in relation to the entire historical series (currently counting 298 months).

The explanation given by the monitor was as follows: “Important destination markets were responsible for the increase in total export volume, with emphasis on growth in volume exported to Africa ( 15.5 %), Central America and the Caribbean ( 15.4 %). and Asia (Exclusive Middle East) (10.2%). Foreign sales fell to Oceania (-13.7%), South America (-1.4%), Europe (-1.5%), America North (-1.8%) and Middle East (-2.3%)”.

As for imports, there was a small drop of -2.1% in October 2022, which is the second consecutive recent drop. However, despite the drop, the total imported volume reached the 3rd highest result, considering the historical series (currently counting 298 months). With the explanation:

The fall in the volume of goods originating from the following trading partners was the main reason for the decrease in the total volume imported: Middle East (-20.7%), Africa (-0.3%), South America (-2.1 %) and Asia (Excluding the Middle East) ( -5.2 %). The volume of external purchases increased from: Oceania (18.5%), Central America and the Caribbean (16.3%), North America (10.4%) and Europe (1.3%).

What can we expect for 2023?

The evolution of technology has shown its relevance in the past couple for years in every segment of the industry and it would not be different for the Foreign Trade sector. The future is investing on more agile and integrated processes, transparency and improved customer experience. 

The trends for the coming years will be linked to ‘digital humanism’ where assertive and well-implemented technology will connect with humans. That is why it is always good to learn and relearn every day, leaving aside resistance to change.

Therefore, companies that work with Foreign Trade need to be connected to these 6 main technology trends that can bring many benefits for the next year:

Business Intelligence

A disruptive and innovative technology that can be implemented in an import-export company is Business Intelligence. The Business Intelligence process consists of extracting information through a combination of business analysis, data mining, data visualization, tools / data infrastructure and best practices that aims to help companies in decision making, through this data analysis.

Blockchain

It is a kind of shared, secure and immutable ledger that was originally created to facilitate the process of recording transactions and tracking assets that make up a business network. It is such a secure tool that, to date, there are no records of fraud involving Blockchain code data. In Brazil, the Federal Data Processing Service, in partnership with the Federal Revenue of Brazil, created its own Blockchain which was called “bConnect”.

Internet of Things

It is nothing more than the digital interconnection between physical objects and the internet, where it is possible to collect and transmit data that can have numerous updates. It is an important technology in world trade, as it is used to track and detail goods traded daily between ports and airports.

Article translated from Migalhas.com – https://www.migalhas.com.br/depeso/378652/o-que-esperar-do-comercio-exterior-em-2023

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