Brazil (BRA) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Brazil (BRA) and Spain (ESP) Trade

2022

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Exports $9.78BRnk 5 / 223

2022

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About

Brazil-Spain Trade: In 2022, Brazil exported $9.78B to Spain. The main products that Brazil exported to Spain were Crude Petroleum ($3.57B), Soybeans ($1.89B), and Corn ($1.36B). Over the past 5 years the exports of Brazil to Spain have increased at an annualized rate of 19.7%, from $3.97B in 2017 to $9.78B in 2022.

In 2022, Brazil did not export any services to Spain.

Spain-Brazil Trade: In 2022, Spain exported $3.8B to Brazil. The main products that Spain exported to Brazil were Refined Petroleum ($475M), Potassic Fertilizers ($163M), and Transmissions ($148M). Over the past 5 years the exports of Spain to Brazil have increased at an annualized rate of 3.65%, from $2.95B in 2017 to $3.8B in 2022.

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

Comparison: In 2022, Brazil ranked 49 in the Economic Complexity Index (ECI 0.36), and 25 in total exports ($341B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Latest Trends

October, 2024

About

Overview In October 2024, Brazil exported $972M and imported $340M from Spain, resulting in a positive trade balance of $632M. Between October 2023 and October 2024 the exports of Brazil have increased by $367M (60.6%) from $605M to $972M, while imports increased by $64.1M (23.2%) from $276M to $340M.

Trade In October 2024, the top exports of Brazil to Spain were Crude Petroleum ($375M), Soybean Meal ($56.3M), Corn ($44.7M), Raw Sugar ($30.7M), and Copper Ore ($21.2M). In October 2024 the top imports of Brazil from Spain were Refined Petroleum ($44.7M), Transmissions ($13.7M), Iron Pipes ($11.8M), Packaged Medicaments ($10.4M), and Organo-Sulfur Compounds ($10.4M).

Origins In October 2024 the exports of Brazil were mainly from Rio de Janeiro ($398M), São Paulo ($147M), Bahia ($88.6M), Mato Grosso ($52M), and Maranhão ($36.3M), while imports destinations were mainly São Paulo ($118M), Bahia ($49.5M), Paraná ($36.3M), Rio de Janeiro ($30.3M), and Santa Catarina ($22.6M).

Growth In October 2024, the increase in Brazil's year-by-year exports to Spain was explained primarily by an increase in product exports in Crude Petroleum ($243M or 185%), Corn ($26.1M or 140%), and Raw Sugar ($14.1M or 85.2%). In October 2024, the increase in Brazil's year-by-year imports from Spain was explained primarily by an increase in product imports in Iron Pipes ($11.6M or 5.35k%), Transmissions ($6.26M or 84%), and Potassic Fertilizers ($4.99M or 22.2k%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (October 2023 - October 2024)$367M(60.6%)

IMPORT GROWTH (October 2023 - October 2024)$64.1M(23.2%)

MAIN EXPORTER (October 2024)Rio de Janeiro$398M

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.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Brazil exported $9.78B to Spain. The main products exported from Brazil to Spain were Crude Petroleum ($3.57B), Soybeans ($1.89B), and Corn ($1.36B). During the last 5 years the exports of Brazil to Spain have increased at an annualized rate of 19.7%, from $3.97B in 2017 to $9.78B in 2022.

In 2017, Spain exported $3.8B to Brazil. The main products exported from Spain to Brazil were Refined Petroleum ($475M), Potassic Fertilizers ($163M), and Transmissions ($148M). During the last 5 years the exports of Spain to Brazil have increased at an annualized rate of 3.65%, from $2.95B in 2022 to $3.8B in 2017.

Exports from Brazil () to Spain () (2022)

Exports from Spain () to Brazil () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Brazil
Top DestinationChina$90.1B

Spain
Top DestinationFrance$65.2B

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 2022, countries that imported more from Brazil than Spain included China ($90.1B), United States ($36.6B), and Argentina ($15.4B).

In 2022, countries that imported more from Spain than Brazil included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

Difference in imports from Spain () and Brazil () (2022)

Comparative Advantage Brazil - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Brazil had a large net trade with Spain in the exports of Mineral Products ($4.3B), Vegetable Products ($3.63B), and Foodstuffs ($671M).

During 2017, Spain had a large net trade with Brazil in the exports of Chemical Products ($1.24B), Machines ($687M), and Mineral Products ($657M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Esp Year

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 () to Brazil () (2018)

Service Trade

Economic Complexity

Competitive Landscape

Year

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 () and Spain () (2022)

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