ABSTRACT
In the 1965-1982 period, Brazil's total exports grew in real terms at an average annual rate of 9.3 per cent. This average, however, masks the fact that, up to the first oil price shock, export growth was three times higher than in the following sub-period. The Brazilian export performance after the mid-1960s was good, not only in absolute terms, but also relative to world export growth. Brazil had a rather closed economy at the beginning of the 1980s compared with some other newly industrializing countries. The progress it made in integrating into the world economy was slow if measured by the change in the share of exports in GDP since the mid-1960s. In the 1965-1982 period, not only the relative importance of primary and manufactured goods in Brazil's exports changed considerably but also the geographical distribution of her world market sales. Accordingly, Brazil's trade with other developing countries became much more intensive.
