Brazil (BRA) and Portugal (PRT) Trade | The Observatory of Economic Complexity

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Brazil (BRA) and Portugal (PRT) Trade

2022

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Exports $4.44BRnk 16 / 223

2022

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About

Brazil-Portugal Trade: In 2022, Brazil exported $4.44B to Portugal. The main products that Brazil exported to Portugal were Crude Petroleum ($2.55B), Soybeans ($350M), and Corn ($288M). Over the past 5 years the exports of Brazil to Portugal have increased at an annualized rate of 25.1%, from $1.45B in 2017 to $4.44B in 2022.

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

Portugal-Brazil Trade: In 2022, Portugal exported $995M to Brazil. The main products that Portugal exported to Brazil were Pure Olive Oil ($298M), Aircraft Parts ($125M), and Wine ($72M). Over the past 5 years the exports of Portugal to Brazil have decreased at an annualized rate of 0.57%, from $1.09B in 2017 to $995M in 2022.

In 2020, Portugal exported services to Brazil worth $580M, with Transportation ($287M), Travel ($241M), and Other business services ($34.3M) 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Latest Trends

October, 2024

About

Overview In October 2024, Brazil exported $286M and imported $112M from Portugal, resulting in a positive trade balance of $174M. Between October 2023 and October 2024 the exports of Brazil have increased by $13.1M (4.81%) from $273M to $286M, while imports increased by $15.2M (15.7%) from $97.1M to $112M.

Trade In October 2024, the top exports of Brazil to Portugal were Crude Petroleum ($241M), Refined Petroleum ($17.4M), Raw Sugar ($12.4M), Rough Wood ($2.84M), and Electric Motor Parts ($2M). In October 2024 the top imports of Brazil from Portugal were Pure Olive Oil ($23.3M), Aircraft parts including unmanned craft ($13.7M), Wine ($5.7M), Apples and Pears ($4.9M), and Non-fillet Frozen Fish ($3.27M).

Origins In October 2024 the exports of Brazil were mainly from Rio de Janeiro ($99.9M), Sergipe ($30.8M), São Paulo ($16M), Mato Grosso ($13.7M), and Minas Gerais ($6.28M), while imports destinations were mainly São Paulo ($48M), Santa Catarina ($27.2M), Pernambuco ($8.27M), Rio de Janeiro ($6.02M), and Minas Gerais ($5.5M).

Growth In October 2024, the increase in Brazil's year-by-year exports to Portugal was explained primarily by an increase in product exports in Crude Petroleum ($174M or 260%), Raw Sugar ($9.74M or 370%), and Refined Petroleum ($5.87M or 50.9%). In October 2024, the increase in Brazil's year-by-year imports from Portugal was explained primarily by an increase in product imports in Apples and Pears ($2.14M or 77.3%), Pure Olive Oil ($1.73M or 8.03%), and Glass Bottles ($1.6M or 3.79k%).

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)$13.1M(4.81%)

IMPORT GROWTH (October 2023 - October 2024)$15.2M(15.7%)

MAIN EXPORTER (October 2024)Rio de Janeiro$99.9M

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 Portugal 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 $4.44B to Portugal. The main products exported from Brazil to Portugal were Crude Petroleum ($2.55B), Soybeans ($350M), and Corn ($288M). During the last 5 years the exports of Brazil to Portugal have increased at an annualized rate of 25.1%, from $1.45B in 2017 to $4.44B in 2022.

In 2017, Portugal exported $995M to Brazil. The main products exported from Portugal to Brazil were Pure Olive Oil ($298M), Aircraft Parts ($125M), and Wine ($72M). During the last 5 years the exports of Portugal to Brazil have decreased at an annualized rate of 0.57%, from $1.09B in 2022 to $995M in 2017.

Exports from Brazil () to Portugal () (2022)

Exports from Portugal () to Brazil () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Brazil
Top DestinationChina$90.1B

Portugal
Top DestinationSpain$20.5B

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

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

In 2022, countries that imported more from Portugal than Brazil included Spain ($20.5B), France ($9.49B), and Germany ($8.76B).

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

Comparative Advantage Brazil - Portugal

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Brazil had a large net trade with Portugal in the exports of Mineral Products ($2.78B), Vegetable Products ($762M), and Metals ($292M).

During 2017, Portugal had a large net trade with Brazil in the exports of Animal and Vegetable Bi-Products ($299M), Transportation ($146M), and Foodstuffs ($91.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Brazil Portugal+$96.4MRefined Petroleum

Top Product Potential Portugal Brazil+$48.3MRefined 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

Prt Year

In 2020, Portugal exported services to Brazil worth $580M, with Transportation ($287M), Travel ($241M), and Other business services ($34.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal () to Brazil () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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