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2023
Exports $45.6BWorld Rnk 8 / 150
Flag Rnk 2 / 1207
2023
Destination $3.13B China
2022 - 2023
FASTEST GROWING MARKET $3.13BChina
2023
PRODUCT COMPLEXITY IN Crude Petroleum-2.37Rnk 1015 / 1025
2023
Imports $9.4BWorld Rnk 23 / 159
Flag Rnk 2 / 1200
2023
Origin $834M Saudi Arabia
2022 - 2023
FASTEST GROWING ORIGIN $834MAlgeria
2023
ECONOMIC COMPLEXITY of Brazil0.31Rnk 49 / 132

About

Exports In 2023, Brazil exported $45.6B in Crude Petroleum, making it the 8th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most exported product in Brazil. The main destination of Crude Petroleum exports from Brazil are: China ($20.1B), United States ($5.38B), Chile ($3.61B), Spain ($3.42B), and Netherlands ($3.38B).

The fastest growing export markets for Crude Petroleum of Brazil between 2022 and 2023 were China ($3.13B), Netherlands ($1.16B), and Thailand ($453M).

Imports In 2023, Brazil imported $9.4B in Crude Petroleum, becoming the 23rd largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 2nd most imported product in Brazil. Brazil imports Crude Petroleum primarily from: Saudi Arabia ($2.01B), United States ($1.67B), Algeria ($1.43B), Guyana ($1.01B), and Argentina ($805M).

The fastest growing import markets in Crude Petroleum for Brazil between 2022 and 2023 were Algeria ($834M), Gabon ($489M), and Guyana ($449M).

Latest Trends

December 2024

About

Overview In December 2024 Brazil's Crude Petroleum exports accounted up to $2.14B and imports accounted up to $409M, resulting in a positive trade balance of $1.73B. Between December 2023 and December 2024 the exports of Brazil's   Crude Petroleum have decreased by $-1.41B (-39.8%) from $3.55B to $2.14B, while imports decreased by $-10.7M (-2.55%) from $419M to $409M.

Destinations In December 2024, Crude Petroleum were exported mostly to China ($1.02B), United States ($280M), Spain ($218M), Netherlands ($150M), and South Korea ($139M), and were imported mostly from Guyana ($74M), Saudi Arabia ($73M), Angola ($72M), Ghana ($70.4M), and United States ($68.9M).

Growth In December 2024, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to Spain ($-134M or -35.7%) and Portugal ($-105M or -43.5%). In December 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from Algeria ($-309M or -84.5%), Guyana ($-74.5M or -47.7%), and Nigeria ($-53M or -64.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-1.41B(-39.8%)
IMPORT GROWTH (December 2023 - December 2024)$-10.7M(-2.55%)
MAIN EXPORTER (December 2024)Rio De Janeiro$4.23B
MAIN DESTINATION (December 2024)China$1.02B

This section shows Crude Petroleum's exports and imports data at subnational level for Brazil. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$45.6B
IMPORTS (2023)$9.4B
NET TRADE (2023)$36.2B

In 2023, Brazil exported $45.6B in Crude Petroleum. The main destinations of Brazil exports on Crude Petroleum were China ($20.1B), United States ($5.38B), Chile ($3.61B), Spain ($3.42B), and Netherlands ($3.38B).

In 2023, Brazil imported $9.4B in Crude Petroleum, mainly from Saudi Arabia ($2.01B), United States ($1.67B), Algeria ($1.43B), Guyana ($1.01B), and Argentina ($805M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Brazil WERE (2022 - 2023):
China$3.13B (18.5%)
Netherlands$1.16B (52.2%)
Thailand$453M (897%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Brazil WERE (2022 - 2023):
India-$1.42B (-69.4%)
South Korea-$1.06B (-49.8%)
Israel-$929M (-87%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Brazil's main exporting competitors in Crude Petroleum were:
Saudi Arabia $181B
United States $125B
Russia $122B
In 2023, Brazil's main importing competitors in Crude Petroleum were:
China $319B
United States $170B
India $140B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.62B
TOP IMPORT POTENTIALNigeria+ $497M

Crude Petroleum’s highest export potential is United States. With an export gap of $2.62B.   Crude Petroleum’s highest import potential is Nigeria with an import gap of $497M.

See methodology.

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