Because productivity is a determinant of comparative advantages over the medium and long terms, the relationship between productivity, industrial growth and exports of manufactures is coming under increasing scrutiny in studies on development and trade policy. This article analyses that relationship in Brazil, where the rise in industrial productivity has been slowing since the mid-1970s. The author examines this slowdown together with its causes, which include macroeconomic conditions, trade strategies, growth policies and technological trends. The theoretical aspects of the relationship between growth, productivity and export orientation are also explored, and the performance and structure of Brazil's exports of manufactures are examined, as are changes in their competitive position according to different estimates. Data from the 1985 industrial census are used to delve further into this subject, and finally some salient conclusions are presented.