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 In 2022, Brazil exported $9.78B to Spain. The main products that Brazil exported to Spain are Crude Petroleum ($3.57B), Soybeans ($1.89B), and Corn ($1.36B). During the last 27 years the exports of Brazil to Spain have increased at an annualized rate of 8.89%, from $980M in 1995 to $9.78B in 2022.

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

Spain-Brazil 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). During the last 27 years the exports of Spain to Brazil have increased at an annualized rate of 5.37%, from $925M in 1995 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 0.29), and 25 in total exports ($341B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.8), and 20 in total exports ($394B).

Latest Trends

February, 2024

About

Overview In February 2024, Brazil exported $595M and imported $325M from Spain, resulting in a positive trade balance of $270M. Between February 2023 and February 2024 the exports of Brazil have increased by $82.2M (16%) from $513M to $595M, while imports decreased by $-56.8M (-14.9%) from $382M to $325M.

Trade In February 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 February 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 February 2024 the exports of Brazil were mainly from Rio de Janeiro ($228M), Mato Grosso ($110M), São Paulo ($26.1M), Rio Grande do Sul ($21.4M), and Bahia ($20.6M), while imports destinations were mainly São Paulo ($98M), Bahia ($54.7M), Rio de Janeiro ($38.5M), Maranhão ($26.3M), and Paraná ($25M).

Growth In February 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 ($14.1M or 85.2%). In February 2024, the decrease in Brazil's year-by-year imports from Spain was explained primarily by an decrease in product imports in Pitch Coke ($-5.37M or -62.9%), Pesticides ($-2.5M or -37.2%), and Phosphatic Fertilizers ($-2.38M or -84.6%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$82.2M(16%)

IMPORT GROWTH (February 2023 - February 2024)$-56.8M(-14.9%)

MAIN EXPORTER (February 2024)Rio de Janeiro$228M

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 27 years the exports of Brazil to Spain have increased at an annualized rate of 8.89%, from $980M in 1995 to $9.78B in 2022.

In 2022, 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 27 years the exports of Spain to Brazil have increased at an annualized rate of 5.37%, from $925M in 1995 to $3.8B in 2022.

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 2021, countries that imported more from Brazil than Spain were China ($90.1B), United States ($36.6B), and Argentina ($15.4B).

In 2021, countries that imported more from Spain than Brazil were 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 2022, Spain had a large net trade with Brazil in the exports of Chemical Products ($1.24B), Machines ($687M), and Mineral Products ($657M).

Service Trade

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)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Brazil has comparative advantage over Spain. Similarly, the more yellow a dot/product is, the more Spain has comparative advantage over Brazil.

Product Space of Brazil () and Spain () (2022)

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