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2023
Flag → Flag
Exports $7.93BRnk 8 / 221
2023
Flag → Flag
Top Product $3.42BCrude Petroleum
2023
Flag → Flag
Exports $4.22BRnk 16 / 220
2023
Flag → Flag
Top Product $985MRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI 0.31Rnk 49 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
Flag  
GDP$2.17TCURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP GROWTH-12.1%CURRENT US$
Rnk 184 / 195
2023
Flag
 GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
Flag
GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
Flag
GDP PC $10,295CURRENT US$
Rnk 89 / 195
2013-2023
Flag
GDP PC GROWTH-17.4%CURRENT US$
Rnk 175 / 195
2023
Flag
GDP PC$33,509CURRENT US$
Rnk 40 / 196
2013-2023
Flag
GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195

About

Brazil-Spain Trade: In 2023, Brazil exported $7.93B to Spain. The main products that Brazil exported to Spain were Crude Petroleum ($3.42B), Soybeans ($1.05B), and Corn ($575M). Over the past 5 years the exports of Brazil to Spain have increased at an annualized rate of 9.02%, from $5.15B in 2018 to $7.93B in 2023.

In 2023, Brazil did not export any services to Spain.

Spain-Brazil Trade: In 2023, Spain exported $4.22B to Brazil. The main products that Spain exported to Brazil were Refined Petroleum ($985M), Packaged Medicaments ($238M), and Iron Pipes ($115M). Over the past 5 years the exports of Spain to Brazil have increased at an annualized rate of 4.95%,  from $3.15B in 2018 to $4.22B in 2023.

In 2018, Spain exported services to Brazil worth $0, with being the largest in terms of value.

Comparison: In 2023,  Brazil ranked 49 in the Economic Complexity Index (ECI 0.31), and 22 in total exports ($355B). That same year, Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B).

Latest Trends

December, 2024

About

Overview In December 2024, Brazil exported $551M and imported $292M from Spain, resulting in a positive trade balance of $259M. Between December 2023 and December 2024 the exports of Brazil have decreased by $-210M (-27.6%) from $761M to $551M, while imports decreased by $-1.81M (-0.62%) from $293M to $292M.

Trade In December 2024, the top exports of Brazil to Spain were Crude Petroleum ($241M), Soybeans ($31.9M), Soybean Meal ($26.4M), Iron Ore ($19M), and Coffee ($15.3M). In December 2024 the top imports of Brazil from Spain were Refined Petroleum ($70M), Packaged Medicaments ($15.5M), Pitch Coke ($13M), Iron Pipes ($12.8M), and Pure Olive Oil ($12.6M).

Origins In December 2024 the exports of Brazil were mainly from Goiás ($75.8M), São Paulo ($72.2M), Rio de Janeiro ($44.8M), Bahia ($34.7M), and Sergipe ($32.2M), while imports destinations were mainly São Paulo ($85.6M), Bahia ($60.7M), Maranhão ($21.9M), Paraná ($20.1M), and Santa Catarina ($17.2M).

Growth In December 2024, the decrease in Brazil's year-by-year exports to Spain was explained primarily by an decrease in product exports in Crude Petroleum ($-134M or -35.7%), Corn ($-42.4M or -94.9%), and Soybean Meal ($-29.9M or -53.1%). In December 2024, the decrease in Brazil's year-by-year imports  from Spain was explained primarily by an decrease in product imports  in Sulfates ($-7.56M or -91.5%), Transmissions ($-7.21M or -52.6%), and Carbonates ($-5.35M or -94.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$-210M(-27.6%)
IMPORT GROWTH (December 2023 - December 2024)$-1.81M(-0.62%)
MAIN EXPORTER (December 2024)Goiás$75.8M

This section shows exports and imports data at subnational level for Brazil. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Brazil over time.

To check Spain and Brazil trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Brazil exported $7.93B to Spain. The main products exported from Brazil to Spain were Crude Petroleum ($3.42B), Soybeans ($1.05B), and Corn ($575M). During the last 5 years the exports of Brazil to Spain have increased at an annualized rate of 9.02%, from $5.15B in 2018 to $7.93B in 2023.

In 2018, Spain exported $4.22B to Brazil. The main products exported from Spain to Brazil were Refined Petroleum ($985M), Packaged Medicaments ($238M), and Iron Pipes ($115M). During the last 5 years the exports of Spain to Brazil have increased at an annualized rate of 4.95%, from $3.15B in 2023 to $4.22B in 2018.

Exports from Brazil (Flag) to Spain (Flag) (2023)

Exports from Spain (Flag) to Brazil (Flag) (2023)

Market Competitiveness

Color
Brazil
Top DestinationChina$106B
Spain
Top DestinationFrance$61.9B

This map shows whether countries import more from Brazil or Spain. Each country is colored based on the difference in imports they receive from Brazil and Spain or the difference in the growth in imports.

In 2023, countries that imported more from Brazil than Spain included China ($106B), Argentina ($17.2B), and United States ($37B).

In 2023, countries that imported more from Spain than Brazil included France ($61.9B), Portugal ($38.1B), and Germany ($40.2B).

Difference in imports from Spain (Flag) and Brazil (Flag) (2023)

Comparative Advantage Brazil - Spain

Flow
Scale

This chart compares trade between Brazil and Spain by product, considering products traded by both, Brazil and Spain.

During 2023, Brazil had a large net trade with Spain in the exports of Mineral Products ($3.81B), Vegetable Products ($2.05B), and Foodstuffs ($800M).

During 2018, Spain had a large net trade with Brazil in the exports of Mineral Products ($1.13B), Chemical Products ($1.12B), and Machines ($646M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Brazil Spain+$210MRefined Petroleum
Top Product Potential Spain Brazil+$209MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2018, Spain exported services to Brazil worth $0, with being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to Brazil (Flag) (2018)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Brazil and Spain. This means that a dot/product with the flag of Brazil indicates it has a comparative advantage over Spain. Similarly, a dot/product with the flag of Spain indicates it has a comparative advantage over Brazil.

Product Space of Brazil (Flag) and Spain (Flag) (2023)

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