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2022
Exports $43.1BWorld Rnk 11 / 149
Flag Rnk 2 / 1206
2022
Destination $2.54B China
2021 - 2022
FASTEST GROWING MARKET $2.54BChina
2022
PRODUCT COMPLEXITY IN Crude Petroleum-2.25Rnk 1011 / 1025
2022
Imports $8.78BWorld Rnk 23 / 158
Flag Rnk 2 / 1198
2022
Origin $1.57B Saudi Arabia
2021 - 2022
FASTEST GROWING ORIGIN $1.57BSaudi Arabia
2022
ECONOMIC COMPLEXITY of Brazil0.36Rnk 49 / 133

About

Exports In 2022, Brazil exported $43.1B in Crude Petroleum, making it the 11th 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 ($16.8B), United States ($5.1B), Spain ($3.57B), Chile ($3.19B), and Portugal ($2.55B).

The fastest growing export markets for Crude Petroleum of Brazil between 2021 and 2022 were China ($2.54B), Spain ($2.5B), and United States ($2B).

Imports In 2022, Brazil imported $8.78B 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 ($2.8B), United States ($2.28B), Nigeria ($1.06B), Angola ($539M), and Algeria ($516M).

The fastest growing import markets in Crude Petroleum for Brazil between 2021 and 2022 were Saudi Arabia ($1.57B), United States ($1.08B), and Angola ($539M).

Latest Trends

September 2024

About

Overview In September 2024 Brazil's Crude Petroleum exports accounted up to $3.2B and imports accounted up to $717M, resulting in a positive trade balance of $2.48B. Between September 2023 and September 2024 the exports of Brazil's   Crude Petroleum have decreased by $-1.11B (-25.8%) from $4.3B to $3.2B, while imports increased by $35M (5.13%) from $682M to $717M.

Destinations In September 2024, Crude Petroleum were exported mostly to China ($1.99B), Netherlands ($267M), Malaysia ($208M), South Korea ($184M), and Spain ($168M), and were imported mostly from Saudi Arabia ($169M), Angola ($156M), United States ($101M), Guyana ($75.2M), and Argentina ($65.9M).

Growth In September 2024, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to India ($-104M or -76.7%), South Korea ($-89.9M or -55.9%), and Chile ($-57.1M or -27.7%). In September 2024, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Guyana ($69.1M or 79.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-1.11B(-25.8%)
IMPORT GROWTH (September 2023 - September 2024)$35M(5.13%)
MAIN EXPORTER (September 2024)Rio De Janeiro$4.23B
MAIN DESTINATION (September 2024)China$1.99B

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 (2022)$43.1B
IMPORTS (2022)$8.78B
NET TRADE (2022)$34.3B

In 2022, Brazil exported $43.1B in Crude Petroleum. The main destinations of Brazil exports on Crude Petroleum were China ($16.8B), United States ($5.1B), Spain ($3.57B), Chile ($3.19B), and Portugal ($2.55B).

In 2022, Brazil imported $8.78B in Crude Petroleum, mainly from Saudi Arabia ($2.8B), United States ($2.28B), Nigeria ($1.06B), Angola ($539M), and Algeria ($516M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Brazil WERE (2021 - 2022):
China$2.54B (17.8%)
Spain$2.5B (232%)
United States$2B (64.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Brazil WERE (2021 - 2022):
India-$377M (-16.9%)
Saint Lucia-$180M (-100%)
Bahamas-$128M (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Brazil's main exporting competitors in Crude Petroleum were:
Saudi Arabia $236B
Russia $133B
Canada $123B
In 2022, Brazil's main importing competitors in Crude Petroleum were:
China $287B
United States $199B
India $170B

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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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