Brazil: Entendendo o mercado positivo de trade finance para exportadores brasileiros

Last Updated: 18 September 2019
Article by Karla Fernandes

O sucesso econômico do Brasil como um dos 25 maiores exportadores e importadores do mundo aumentou a importância do mercado de trade finance no país.

Seu crescimento se apoiou principalmente em exportações destinadas à China. Há dez anos atrás os EUA eram o maior parceiro comercial do Brasil, mas agora a China ultrapassou o país como principal parceiro comercial. Em 2017 o Brasil exportou US$219 bilhões e importou US$ 140 bilhões, gerando um saldo positivo na balança comercial de US$ 78,3 bilhões. Produtos agrícolas como soja, açúcar, minério de ferro e aves dominaram o mercado de exportações do Brasil.

A maneira tradicional pela qual as empresas brasileiras têm financiado as exportações tem sido através de empréstimos de bancos comerciais. Estes bancos entendem o nível de risco dos exportadores, e se apoiam na utilização de uma conta vinculada, onde os pagamentos dos clientes dos exportadores são creditados como garantia, para descontar a venda exportada e antecipar os fundos ao exportador. Uma vez que os itens são exportados, os fundos da conta vinculada são utilizados para repagar o empréstimo. Agentes de Garantias e Contas são necessários para estes tipos de transações entre exportadores, compradores e bancos.

Mesmo no auge da crise economia do Brasil, o mercado de trade finance do país sempre esteve forte e estável. Bens de exportação como soja, açúcar e aves, juntamente com outros agronegócios, trouxeram consistentemente dinheiro para o país.

Desafios para financiamentos no Brasil

Empresas brasileiras agora enfrentam alguns desafios para obter financiamentos. Há menos bancos comerciais oferecendo linhas de trade finance e mais avessos a riscos. Por exemplo, no passado, um financiamento com 4-5 anos de prazo permitia que um fazendeiro de soja financiasse dois ciclos de suas safras com dois ciclos de exportação. Isto colocava o investimento de volta na produção da safra por um período maior de tempo. Os bancos oferecem agora um prazo menor, levando a uma menor sustentação da produção por conta dos juros mais altos juntamente com o aumento dos riscos para os credores. Ainda que o mercado tenha demonstrado que está buscando mais garantias para aprovar novos empréstimos, um agente independente, tal como a TMF Group, deve estar presente para ajudar a controlar a transação. Isto pode dar confiança aos credores de que o fluxo de pagamentos, os cálculos e os documentos estão sendo feitos adequadamente para proteger a transação.

Oportunidades de fundos estrangeiros

A mudança na dinâmica dos bancos no Brasil e o fato de que os fundos de investimentos brasileiros não podem fazer empréstimos para empresas, trazem uma oportunidade para que fundos estrangeiros assumam um papel mais predominante para fazer empréstimos a exportadores do Brasil. Fundos estrangeiros deveriam olhar para o mercado de trade finance no Brasil. Nestas situações, é ainda mais importante que os fundos se unam a um parceiro local no Brasil que entenda as particularidades do mercado e que possa guia-los ao longo do processo.

Nós podemos ajudar

Com o aumento das oportunidades de trade finance no Brasil, nossos experts independentes podem oferecer os serviços de agentes independentes tanto para serviços de conta vinculada quanto de garantias em transações de trade finance. A TMF Brasil oferece serviços para credores e empresas para ajudar a gerir e navegar os desafios que vêm com a entrada em um novo mercado. Podemos ajudar. Entre em contato conosco.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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