The records in Rio's trade flow and imports demonstrate sustainable and consistent growth over the past few years. According to Rodrigo Santiago, president of the International Relations Business Council at the Federation of Industries of the State of Rio de Janeiro (Firjan), this is a positive outcome of the growing internationalization of companies in the state of Rio and their increasingly competitive performance in international trade.

Access Rio Exporta 2024 HERE: www.firjan.com.br/rioexporta

In 2024, Rio's exports decreased by 3% compared to the previous year. According to Giorgio Rossi, manager of Firjan Internacional, this scenario is a result of the shipments from the oil and natural gas industry (US$ 35.3 billion), which represents 79% of Rio’s international sales and contracted by 2%. "This is a commodity highly influenced by international prices and it operated below the averages of the last two years (US$ 81.50) in 2024," says Rossi.

Furthermore, the chemical industry saw a 15% increase in exports (US$ 399 million), driven by a 26% rise in the sales of ethylene, propylene, and styrene polymers (US$ 128 million).

The state’s imports increased by 7% compared to 2023, with a 28% growth in imports from the machinery and equipment industry (US$ 3 billion). "These are high-value products, which shows that entrepreneurs are importing to add value to production capacity and products in the state of Rio," explains Rossi.

Oil Trade

The exports from Rio’s oil market reached US$ 35.3 billion in 2024, 2% lower than in 2023, partly due to a 9% drop in crude oil sales to China (US$ 15.6 billion), which continues to be the leading destination for the sector’s exports, with 44% share. Notably, shipments to Spain (US$ 4.3 billion) grew by 59%.

Regarding imports, there was a 3% decline, with Saudi Arabia remaining the main supplier of oil to the state.

Non-Oil Trade

Excluding oil, Rio recorded a 5% decrease in exports compared to 2023, partly due to a contraction in sales to Latin American markets (Mexico, Chile, and Colombia). However, exports to Asia grew by 28% (US$ 2.6 billion), with a 43% increase in shipments to Singapore.

The automotive sector and its value chain stood out, with a 13% increase in exports of freight vehicles to Chile and 16% growth in exports of passenger cars to Argentina.

Non-oil imports amounted to US$ 25 billion in 2024, an 8% increase compared to 2023, with a 15% rise in purchases from the USMCA bloc, which includes the US as the main origin of non-oil imports to Rio. Significant increases were observed in the imports of aviation engine and turbine parts from the US (up 33%) and automobile parts and accessories from Mexico (up 34%). According to Rossi, Mexico is a traditional economic partner of the state of Rio, and there is a trade agreement between Brazil and Mexico, with many industries from the same brands established in both countries.