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2023
Economic Complexity
Trade 0.31Rank 49 of 132
2021
Economic Complexity
Technology 1.15Rank 12 of 96
2022
Economic Complexity
Research 1.29Rank 21 of 140
2023
Product
Exports | Imports $355B | $253B22 of 226 |  26 of 226
2023
Per Capita Product
Exports | Imports $1.68k | $1.2k105 of 220 |  144 of 220

About

Overview In 2023, Brazil was the number 9 economy in the world in terms of GDP (current US$), the number 22 in total exports, the number 26 in total imports, the number 89 economy in terms of GDP per capita (current US$) and the number 49 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Brazil are Soybeans ($53.1B), Crude Petroleum ($45.6B), Iron Ore ($34B), Raw Sugar ($16.2B), and Corn ($14.4B), exporting mostly to China ($106B), United States ($37B), Argentina ($17.2B), Netherlands ($11.4B), and Chile ($8.68B).

In 2023, Brazil was the world's biggest exporter of Soybeans ($53.1B), Raw Sugar ($16.2B), Corn ($14.4B), Soybean Meal ($11B), and Sulfate Chemical Woodpulp ($8.95B)

Imports The top imports of Brazil are Refined Petroleum ($18.5B), Crude Petroleum ($9.4B), Motor vehicles; parts and accessories (8701 to 8705) ($7.52B), Gas Turbines ($6.95B), and Cars ($6.1B), importing mostly from China ($57.5B), United States ($39.9B), Germany ($13.7B), Argentina ($12.1B), and Russia ($11.1B).

In 2023, Brazil was the world's biggest importer of Potassic Fertilizers ($5.65B), Pesticides ($4.94B), Nitrogenous Fertilizers ($4.35B), Phosphatic Fertilizers ($948M), and Malt ($864M)

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

Latest Trends

December, 2024

About

Overview In December 2024 Brazil exported $24.9B and imported $20.1B, resulting in a positive trade balance of $4.8B. Between December 2023 and December 2024 the exports of Brazil have decreased by $-3.88B (-13.5%) from $28.8B to $24.9B, while imports increased by $638M (3.28%) from $19.5B to $20.1B.

Trade In December 2024, the top exports of Brazil were Iron Ore ($2.2B), Crude Petroleum ($2.14B), Raw Sugar ($1.36B), Coffee ($1.01B), and Corn ($915M). In December 2024 the top imports of Brazil were Refined Petroleum ($1.01B), Gas Turbines ($809M), Motor vehicles; parts and accessories (8701... ($597M), Cars ($571M), and Nitrogenous Fertilizers ($451M).

Origins In December 2024 the exports of Brazil were mainly from São Paulo ($5.46B), Minas Gerais ($3.06B), Não Declarada ($2.46B), Rio Grande do Sul ($1.97B), and Pará ($1.82B), while imports destinations were mainly São Paulo ($5.63B), Santa Catarina ($2.78B), Rio de Janeiro ($2.27B), Paraná ($1.48B), and Minas Gerais ($1.43B).

Destinations In December 2024, Brazil exported mostly to China ($5.25B), United States ($3.72B), Argentina ($1.3B), Netherlands ($781M), and Mexico ($591M), and imported mostly from China ($5.12B), United States ($3.22B), Argentina ($1.24B), Germany ($1.04B), and Russia ($695M).

Growth In December 2024, the decrease in Brazil's year-by-year exports was explained primarily by an decrease in exports to China ($-3.55B or -40.3%), Spain ($-210M or -27.6%), and South Korea ($-181M or -30.6%), and product exports decrease in Crude Petroleum ($-1.41B or -39.8%), Iron Ore ($-1.31B or -37.3%), and Soybeans ($-1.14B or -57.1%). In December 2024, the increase in Brazil's year-by-year imports was explained primarily by an increase in imports from China ($500M or 10.8%), Argentina ($355M or 40%), and United States ($219M or 7.28%), and product imports increase in Gas Turbines ($136M or 20.2%), Motor vehicles; parts and accessories (8701... ($118M or 24.6%), and Steam Boilers ($97M or 8.74k%).

Latest Trade

Time Scale
Flow
Color
Depth
EXPORT GROWTH (December 2023 - December 2024)$-3.88B(-13.5%)
IMPORT GROWTH (December 2023 - December 2024)$638M(3.28%)
MAIN EXPORTER (December 2024)São Paulo$5.46B
MAIN DESTINATION (December 2024)China$5.25B

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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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Soybeans$53.1B
Top Destination (2023)China$106B

In 2023, Brazil exported a total of $355B, making it the number 22 exporter in the world. During the last five reported years the exports of Brazil have changed by $109B from $247B in 2018 to $355B in 2023.

The most recent exports are led by Soybeans ($53.1B), Crude Petroleum ($45.6B), Iron Ore ($34B), Raw Sugar ($16.2B), and Corn ($14.4B). The most common destination for the exports of Brazil are China ($106B), United States ($37B), Argentina ($17.2B), Netherlands ($11.4B), and Chile ($8.68B).

Explore Visualizations

Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
China$13.8B (+ 15%)
Argentina$1.33B (+ 8.36%)
Mexico$1.32B (+ 18.4%)
Fastest Growing Import Markets (2022 - 2023)
Russia$2.51B (+ 29%)
Algeria$668M (+ 53.4%)
Guyana$518M (+ 92.6%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

Type
Flow
Depth
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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (N/A)

Economic Complexity

Overview

Economic Complexity (Trade)0.31Rank 49 of 132
Economic Complexity (Technology)1.15Rank 12 of 96
Economic Complexity (Research)1.29Rank 21 of 140

Comparison Map

Color

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 (0.16), Rio de Janeiro (0.02), and Santa Catarina (-0.0048).

The principal exporters of Brazil were São Paulo ($70.9B), Rio de Janeiro ($44.7B), and Minas Gerais ($41.9B).

The same year,  the principal importers of Brazil were São Paulo ($75.8B), Santa Catarina ($33.8B), and Rio de Janeiro ($27.7B).

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Most Specialized Products by RCA Index

Brazil has a high level of specialization in Soybeans (36.3), Pharmaceutical Animal Products (25.6), Raw Sugar (25.3), Pig Iron (23), and Soybean Meal (19.7). Specialization is measured using RCA, an index that takes the ratio between Brazil observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Brazil according to the relatedness index, were Sorghum (0.24), Ground Nut Meal (0.23), Coal Briquettes (0.21), Cobalt Oxides and Hydroxides (0.2), and Nickel Mattes (0.2). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Brazil is not specialized in.

Product Space

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.

Relatedness Space

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.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Brazil's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨32nd 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.

Explore Rankings

ECI (Trade) Ranking by Country

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