Brazil2021 Economic Complexity : 0.33, Rank 49 of 131
2021 Product Exports | Imports: $288B | $225B, 24 of 226 | 27 of 226
2021 Per Capita Product Exports | Imports: $1.35k | $1.05k, 113 of 219 | 148 of 219
2019 Service Exports | Imports : $33.8B | $69B, 33 of 108 | 22 of 108
Overview In 2021, Brazil was the number 12 economy in the world in terms of GDP (current US$), the number 24 in total exports, the number 27 in total imports, the number 81 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 Iron Ore ($46.2B), Soybeans ($39B), Crude Petroleum ($30.7B), Raw Sugar ($10B), and Poultry Meat ($7.66B), exporting mostly to China ($88.3B), United States ($30.2B), Argentina ($12B), Netherlands ($9.29B), and Chile ($7.14B).
In 2021, Brazil was the world's biggest exporter of Soybeans ($39B), Raw Sugar ($10B), Poultry Meat ($7.66B), Frozen Bovine Meat ($7.09B), and Sulfate Chemical Woodpulp ($6.84B)
Imports The top imports of Brazil are Refined Petroleum ($13.1B), Motor vehicles; parts and accessories (8701 to 8705) ($7.58B), Vaccines, blood, antisera, toxins and cultures ($6.4B), Mixed Mineral or Chemical Fertilizers ($6.37B), and Petroleum Gas ($5.72B), importing mostly from China ($53.8B), United States ($39.3B), Germany ($12.4B), Argentina ($11.2B), and India ($6.77B).
In 2021, Brazil was the world's biggest importer of Mixed Mineral or Chemical Fertilizers ($6.37B), Pesticides ($4.49B), Nitrogenous Fertilizers ($4.42B), Potassic Fertilizers ($4.1B), and Phosphatic Fertilizers ($1.06B)
Location Brazil borders Argentina, Bolivia, Paraguay, Peru, Suriname, Uruguay, and Venezuela by land.
February, 2023
Overview In February 2023 Brazil exported $20.6B and imported $17.7B, resulting in a positive trade balance of $2.83B. Between February 2022 and February 2023 the exports of Brazil have decreased by $-2.95B (-12.6%) from $23.5B to $20.6B, while imports decreased by $-1.16B (-6.13%) from $18.9B to $17.7B.
Trade In February 2023, the top exports of Brazil were Soybeans ($2.88B), Iron Ore ($2.01B), Crude Petroleum ($1.2B), Refined Petroleum ($961M), and Soybean Meal ($710M). In February 2023 the top imports of Brazil were Refined Petroleum ($1.66B), Crude Petroleum ($744M), Vaccines, blood, antisera, toxins and cultures ($573M), Motor vehicles; parts and accessories (8701... ($518M), and Gas Turbines ($467M).
Origins In February 2023 the exports of Brazil were mainly from São Paulo ($4.24B), Minas Gerais ($2.38B), Mato Grosso ($2.12B), Paraná ($1.61B), and Pará ($1.43B), while imports destinations were mainly São Paulo ($5.18B), Santa Catarina ($2.14B), Rio de Janeiro ($1.69B), Paraná ($1.41B), and Minas Gerais ($1.11B).
Destinations In February 2023, Brazil exported mostly to China ($5.1B), United States ($2.38B), Argentina ($1.32B), Netherlands ($657M), and Mexico ($651M), and imported mostly from China ($3.71B), United States ($2.85B), Argentina ($944M), Germany ($942M), and Russia ($550M).
Growth In February 2023, the decrease in Brazil's year-by-year exports was explained primarily by an decrease in exports to Malaysia ($-166M or -40.6%), Indonesia ($-74.4M or -25%), and Thailand ($-64.5M or -49.5%), and product exports decrease in Iron Ore ($-860M or -30.7%), Copper Ore ($-154M or -68.8%), and Raw Sugar ($-90.3M or -14.8%). In February 2023, the decrease in Brazil's year-by-year imports was explained primarily by an decrease in imports from Japan ($-295M or -43.2%), Paraguay ($-83.2M or -29%), and Italy ($-73.9M or -17.7%), and product imports decrease in Copper Ore ($-63.4M or -86.5%), Platinum ($-42.6M or -53.3%), and Radioactive Chemicals ($-35.9M or -94.7%).
EXPORT GROWTH (February 2022 - February 2023): $-2.95B, (-12.6%)
IMPORT GROWTH (February 2022 - February 2023): $-1.16B, (-6.13%)
MAIN EXPORTER (February 2023): São Paulo, $4.24B
MAIN DESTINATION (February 2023): China, $5.1B
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, destination or origin country to explore the exports or imports behavior of Brazil over time.
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In 2021, Brazil exported a total of $288B, making it the number 24 exporter in the world. During the last five reported years the exports of Brazil have changed by $98.5B from $190B in 2016 to $288B in 2021.
The most recent exports are led by Iron Ore ($46.2B), Soybeans ($39B), Crude Petroleum ($30.7B), Raw Sugar ($10B), and Poultry Meat ($7.66B). The most common destination for the exports of Brazil are China ($88.3B), United States ($30.2B), Argentina ($12B), Netherlands ($9.29B), and Chile ($7.14B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
Brazil Exports Services (2019): $33.8B
Brazil Imports Services (2019): $69B
In 2019, Brazil exported $33.8B worth of services. The top services exported by Brazil in 2019 were Other business services ($15.8B), Transportation ($5.56B), Personal travel ($4.31B), Computer and information services ($2.57B), and Business travel ($1.68B).
The top services imported by Brazil in 2019 were Other business services ($24.5B), Personal travel ($12.8B), Transportation ($11.5B), Computer and information services ($5.4B), and Royalties and license fees ($5.25B).
This section shows exports, imports and economic complexity data at the 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 São Paulo (0.15), Rio de Janeiro (0.017), and Santa Catarina (0.004).
The principal exporters of Brazil were São Paulo ($69.6B), Rio de Janeiro ($45.5B), and Minas Gerais ($40.2B).
The same year, the principal importers of Brazil were São Paulo ($81.5B), Santa Catarina ($29B), and Rio de Janeiro ($25.4B).
Brazil has a high level of specialization in Soybeans (36.2), Raw Sugar (25.8), Soybean Meal (18.6), Poultry Meat (18.2), and Pig Iron (17.2). Specialization is measured using RCA, an index that takes the ratio between Brazil observed and expected exports in each product.
The highest complexity exports of Brazil according to the product complexity index (PCI) are Carboxyimide Compounds (1.31), Motor-working Tools (1.29), Nickel Bars (1.14), Metal-Rolling Mills (1.1), and Large Construction Vehicles (1.1). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Brazil according to the relatedness index, were Coal Briquettes (0.24), Sorghum (0.23), Tin Ores (0.22), Uranium and Thorium Ore (0.22), and Wool (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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Brazil's economy has become relatively less complex, moving from the 24th 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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