Overview: In 2019 Brazil was the number 9 economy in the world in terms of GDP (current US$), the number 25 in total exports, the number 27 in total imports, the number 79 economy in terms of GDP per capita (current US$) and the number 49 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Brazil are Soybeans ($26.1B), Crude Petroleum ($24.3B), Iron Ore ($23B), Corn ($7.39B), and Sulfate Chemical Woodpulp ($7.35B), exporting mostly to China ($63.5B), United States ($30.5B), Argentina ($9.85B), Netherlands ($9.13B), and Japan ($5.58B).

In 2019, Brazil was the world's biggest exporter of Soybeans ($26.1B), Sulfate Chemical Woodpulp ($7.35B), Poultry Meat ($6.55B), Frozen Bovine Meat ($5.67B), and Raw Sugar ($5.33B)

Imports: The top imports of Brazil are Refined Petroleum ($12.4B), Vehicle Parts ($6.19B), Crude Petroleum ($4.35B), Integrated Circuits ($3.83B), and Pesticides ($3.75B), importing mostly from China ($36.3B), United States ($32.6B), Germany ($11.3B), Argentina ($10.3B), and South Korea ($4.83B).

In 2019, Brazil was the world's biggest importer of Pesticides ($3.75B), Special Purpose Ships ($3.51B), Potassic Fertilizers ($2.98B), Mixed Mineral or Chemical Fertilizers ($2.81B), and Phosphatic Fertilizers ($506M)

Location: Brazil borders Argentina, Bolivia, Paraguay, Peru, Suriname, Uruguay, and Venezuela by land.

Latest Trends (March, 2021)

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Overview: In March 2021 Brazil exported $24.4B and imported $17.9B, resulting in a positive trade balance of $6.53B. Between March 2020 and March 2021 the exports of Brazil have increased by $6.04B (32.9%) from $18.3B to $24.4B, while imports increased by $3.34B (23%) from $14.5B to $17.9B.

Trade: In March 2021, the top exports of Brazil were Soybeans ($5.36B), Iron Ore ($3.6B), Crude Petroleum ($2.47B), Raw Sugar ($639M), and Poultry Meat ($550M). In March 2021 the top imports of Brazil were Refined Petroleum ($761M), Vehicle Parts ($728M), Petroleum Gas ($517M), Blood, antisera, vaccines, toxins and cultures ($486M), and Integrated Circuits ($418M).

Origins: In March 2021 the exports of Brazil were mainly from São Paulo ($4.22B), Minas Gerais ($3.12B), Mato Grosso ($2.59B), Rio de Janeiro ($2.56B), and Pará ($2.36B), while imports destinations were mainly São Paulo ($6.09B), Santa Catarina ($2.24B), Rio de Janeiro ($1.58B), Paraná ($1.39B), and Amazonas ($1.1B).

Destinations: In March 2021, Brazil exported mostly to China ($8.52B), United States ($2.4B), Argentina ($1.09B), Netherlands ($806M), and Germany ($512M), and imported mostly from China ($4.01B), United States ($3.14B), Germany ($993M), Argentina ($932M), and Italy ($588M).

Growth: In March 2021, the increase in Brazil's year-by-year exports was explained primarily by an increase in exports to China ($3.02B or 54.7%), United States ($454M or 23.4%), and Argentina ($321M or 41.7%), and product exports increase in Iron Ore ($2.24B or 164%), Soybeans ($1.61B or 43.1%), and Crude Petroleum ($443M or 21.9%). In March 2021, the increase in Brazil's year-by-year imports was explained primarily by an increase in imports from China ($1.61B or 67.2%), United States ($961M or 44%), and Italy ($305M or 108%), and product imports increase in Vehicle Parts ($420M or 136%), Petroleum Gas ($362M or 233%), and Gas Turbines ($233M or 682%).

Historical Data

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Yearly Exports

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Value
Depth

Top Export (2019): Soybeans, $26.1B

Top Destination (2019): China, $63.5B

In 2019, Brazil exported a total of $230B, making it the number 25 exporter in the world. During the last five reported years the exports of Brazil have changed by $1.13B from $229B in 2014 to $230B in 2019.

The most recent exports are led by Soybeans ($26.1B), Crude Petroleum ($24.3B), Iron Ore ($23B), Corn ($7.39B), and Sulfate Chemical Woodpulp ($7.35B). The most common destination for the exports of Brazil are China ($63.5B), United States ($30.5B), Argentina ($9.85B), Netherlands ($9.13B), and Japan ($5.58B).

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Yearly Imports

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Depth

Top Import (2019): Refined Petroleum, $12.4B

Top Origin (2019): China, $36.3B

In 2019 Brazil imported $177B, making it the number 27 trade destination in the world. During the last five reported years the imports of Brazil changed by -$52.6B from $230B in 2014 to $177B in 2019.

The most recent imports of Brazil are led by Refined Petroleum ($12.4B), Vehicle Parts ($6.19B), Crude Petroleum ($4.35B), Integrated Circuits ($3.83B), and Pesticides ($3.75B). The most common import partners for Brazil are China ($36.3B), United States ($32.6B), Germany ($11.3B), Argentina ($10.3B), and South Korea ($4.83B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Brazil Exports Services (2018): $34.1B

Brazil Imports Services (2018): $70.9B

In 2018, Brazil exported $34.1B worth of services. The top services exported by Brazil in 2018 were Other business services ($16.4B), Transportation ($5.88B), Personal travel ($4.32B), Computer and information services ($2.62B), and Business travel ($1.6B).

The top services imported by Brazil in 2018 were Other business services ($25.8B), Personal travel ($13.2B), Transportation ($12B), Royalties and license fees ($5.12B), and Business travel ($5.02B).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Brazil are Nuts, edible: coconuts, desiccated (55%) and Nuts, edible: coconuts, desiccated (41.8%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Brazil are:
16: AAP.A25TM N° 38 Acuerdo de Alcance Parcial de Complementación Económica N° 38 Suscrito al Amparo del Artículo 25 del Tratado de Montevideo 1980
17: AAP.A25TM N° 41 Acuerdo de Alcance Parcial de Complementación Económica N° 41, Suscrito al Amparo del Artículo 25 del Tratado de Montevideo 1980
23: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
27: AAP.CE N° 14 Acuerdo de Complementación Económica N° 14 celebrado entre la República Argentina y la República Federativa del Brasil
28: AAP.CE N° 18 - Complementación Económica entre Argentina, Brasil, Paraguay y Uruguay
29: AAP.CE N° 2 Acuerdo de Complementación Económica N° 2 celebrado entre la República Federativa del Brasil y la República Oriental del Uruguay
35: AAP.CE N° 35 - Complementación Económica entre MERCOSUR y Chile
36: AAP.CE N° 36 - Complementación Económica entre MERCOSUR y Bolivia
49: AAP.CE N° 53 Acuerdo de Complementación Económica N° 53 entre la República Federativa del Brasil y los Estados Unidos Mexicanos
50: AAP.CE N° 55 Acuerdo de Complementación Económica N° 55 celebrado entre el MERCOSUR y los Estados Unidos Mexicanos
60: AAP.CE N° 58 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay y Perú
61: AAP.CE N° 59 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay, Colombia, Ecuador y Venezuela
64: AAP.CE N° 62 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay y Cuba
71: AAP.CE Nº 69 Acuerdo de Alcance Parcial de Complementación Económica N° 69 entre la República Federativa del Brasil y la República Bolivariana de Venezuela
79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)
83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
195: Preferential tariff for Cuba
239: Preferential tariff for India
244: Preferential tariff for Israel
269: Preferential tariff for MERCOSUR countries (Southern Common Market)
336: Preferential tariff under (GSTP) Global System of Trade Preferences among Developing Countries

Economic Complexity

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Comparison Map

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Value

This section shows exports, imports and economic complexity data at subnational level for Brazil. Click any of the State in the geomap to visit the specific subnational profile.

The top territories of Brazil according to its Economic Complexity Index are Rio de Janeiro (0.18), São Paulo (0.1), and Rio Grande do Sul (-0.082).

In 2020, the principal exporters of Brazil were São Paulo ($42.4B), Minas Gerais ($26.2B), and Rio de Janeiro ($22.5B).

The same year,  the principal importers  of Brazil were São Paulo ($51.4B), Rio de Janeiro ($24.8B), and Santa Catarina ($16B).

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Most Specialized Products by RCA Index

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Brazil has a high level of specialization in Soybeans (37.2), Steel Ingots (22.1), Raw Sugar (19.3), Poultry Meat (19), and Soybean Meal (18.8). Specialization is measured using RCA, an index that takes the ratio between Brazil observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Brazil according to the product complexity index (PCI) are Tools for working in the hand, non-electric motor (1.64), Carboxyimide-function and imine-function compounds (1.42), Metal-rolling mills and rolls thereof (1.38), Molybdenum and articles thereof, waste or scrap (1.34), and Knives and blades for hand use (1.11). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Brazil according to the relatedness index, are Uranium and Thorium Ore (0.23), Other Ores (0.22), Wool (0.22), Sorghum (0.21), and Raw Copper (0.21). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Brazil is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of Brazil. These are products that tend to be co-exported with the products that Brazil exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

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Scale

During the last 20 years Brazil's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨25th to the 49th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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