About

Overview In 2022, Brazil was the number 11 economy in the world in terms of GDP (current US$), the number 25 in total exports, the number 26 in total imports, the number 82 economy in terms of GDP per capita (current US$) and the number 49 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Brazil are Soybeans ($47.2B), Crude Petroleum ($43.1B), Iron Ore ($30.1B), Refined Petroleum ($12.9B), and Corn ($12.4B), exporting mostly to China ($90.1B), United States ($36.6B), Argentina ($15.4B), Netherlands ($11.8B), and Spain ($9.78B).

In 2022, Brazil was the world's biggest exporter of Soybeans ($47.2B), Raw Sugar ($11.5B), Frozen Bovine Meat ($11B), Poultry Meat ($8.95B), and Coffee ($8.86B)

Imports The top imports of Brazil are Refined Petroleum ($23B), Crude Petroleum ($8.78B), Motor vehicles; parts and accessories (8701 to 8705) ($7.96B), Potassic Fertilizers ($7.59B), and Mixed Mineral or Chemical Fertilizers ($7.44B), importing mostly from China ($64B), United States ($49.4B), Germany ($13.5B), Argentina ($12.6B), and India ($9.78B).

In 2022, Brazil was the world's biggest importer of Potassic Fertilizers ($7.59B), Pesticides ($7.06B), Phosphatic Fertilizers ($1.39B), Malt ($715M), and Hydrazine or Hydroxylamine Derivatives ($261M)

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

Latest Trends

December, 2023

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Soybeans$47.2B
Top Destination (2022)China$90.1B

In 2022, Brazil exported a total of $341B, making it the number 25 exporter in the world. During the last five reported years the exports of Brazil have changed by $118B from $222B in 2017 to $341B in 2022.

The most recent exports are led by Soybeans ($47.2B), Crude Petroleum ($43.1B), Iron Ore ($30.1B), Refined Petroleum ($12.9B), and Corn ($12.4B). The most common destination for the exports of Brazil are China ($90.1B), United States ($36.6B), Argentina ($15.4B), Netherlands ($11.8B), and Spain ($9.78B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Fastest Growing Export Markets (2021 - 2022)
United States$4.41B (+ 13.7%)
Spain$4.33B (+ 79.4%)
Argentina$3.43B (+ 28.7%)
Fastest Growing Import Markets (2021 - 2022)
China$9.81B (+ 18.1%)
United States$9.61B (+ 24.1%)
India$2.96B (+ 43.5%)

Total Export Growth by Market (2021 - 2022)

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 (2019)

Economic Complexity

Overview

Economic Complexity (Trade)0.29Rank 49 of 124
Economic Complexity (Technology)1.15Rank 12 of 96
Economic Complexity (Research)1.19Rank 21 of 135

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 (0.12), Rio de Janeiro (0.037), and Santa Catarina (0.0018).

The principal exporters of Brazil were São Paulo ($71.5B), Rio de Janeiro ($46.7B), and Minas Gerais ($40.2B).

The same year,  the principal importers of Brazil were São Paulo ($71.8B), Santa Catarina ($28.8B), and Rio de Janeiro ($25.8B).

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Most Specialized Products by RCA Index

Brazil has a high level of specialization in Soybeans (35), Ground Nut Oil (24.4), Raw Sugar (23.5), Pig Iron (23.3), and Soybean Meal (19.9). 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

The highest complexity exports of Brazil according to the product complexity index (PCI) are Metal-rolling mills and rolls therefor (1.15), Tools; for working in the hand, pneumatic, hydraulic or with self-contained electric... (0.98), Tractors; (other than tractors of heading no 8709) (0.97), Nitrile-function compounds (0.93), and Mechanical appliances for projecting, dispersing or spraying liquids or powders; fire extinguishers,... (0.92). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Brazil according to the relatedness index, were Sorghum (0.24), Titanium Ore (0.21), Coal Briquettes (0.2), Wool (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.

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.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Brazil's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨31st 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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ECI (Trade) Ranking by Country

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