Brazil2020 Economic Complexity : 0.44, Rank 47 of 127
2020 Product Exports | Imports: $214B | $160B, 25 of 226 | 29 of 226
2020 Per Capita Product Exports | Imports: $1.01k | $755, 116 of 219 | 158 of 219
2019 Service Exports | Imports : $33.8B | $69B, 12 of 69 | 9 of 69
Overview In 2020 Brazil was the number 12 economy in the world in terms of GDP (current US$), the number 25 in total exports, the number 29 in total imports, the number 91 economy in terms of GDP per capita (current US$) and the number 47 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Brazil are Soybeans ($28.6B), Iron Ore ($26.5B), Crude Petroleum ($19.8B), Raw Sugar ($8.95B), and Frozen Bovine Meat ($6.69B), exporting mostly to China ($67.9B), United States ($21.9B), Argentina ($8.57B), Netherlands ($6.7B), and Canada ($4.39B).
In 2020, Brazil was the world's biggest exporter of Soybeans ($28.6B), Raw Sugar ($8.95B), Frozen Bovine Meat ($6.69B), Sulfate Chemical Woodpulp ($5.84B), and Poultry Meat ($5.59B)
Imports The top imports of Brazil are Refined Petroleum ($7.91B), Vehicle Parts ($5.42B), Pesticides ($3.73B), Integrated Circuits ($3.66B), and Packaged Medicaments ($3.2B), importing mostly from China ($36.4B), United States ($29.3B), Germany ($9.71B), Argentina ($7.67B), and South Korea ($4.59B).
In 2020, Brazil was the world's biggest importer of Pesticides ($3.73B), Mixed Mineral or Chemical Fertilizers ($2.46B), Malt ($443M), Phosphatic Fertilizers ($372M), and Hydrazine or Hydroxylamine Derivatives ($203M)
Location Brazil borders Argentina, Bolivia, Paraguay, Peru, Suriname, Uruguay, and Venezuela by land.
March, 2022
Overview In March 2022 Brazil exported $29.1B and imported $21.7B, resulting in a positive trade balance of $7.35B. Between March 2021 and March 2022 the exports of Brazil have increased by $4.73B (19.5%) from $24.3B to $29.1B, while imports increased by $3.85B (21.5%) from $17.9B to $21.7B.
Trade In March 2022, the top exports of Brazil were Soybeans ($6.48B), Crude Petroleum ($3.09B), Iron Ore ($2.79B), Refined Petroleum ($1.02B), and Frozen Bovine Meat ($930M). In March 2022 the top imports of Brazil were Refined Petroleum ($1.33B), Crude Petroleum ($759M), Vehicle Parts ($710M), Petroleum Gas ($710M), and Semiconductor Devices ($624M).
Origins In March 2022 the exports of Brazil were mainly from São Paulo ($5.59B), Minas Gerais ($3.69B), Rio de Janeiro ($3.14B), Mato Grosso ($2.99B), and Pará ($1.98B), while imports destinations were mainly São Paulo ($6.62B), Santa Catarina ($2.34B), Rio de Janeiro ($2.21B), Paraná ($1.81B), and Minas Gerais ($1.3B).
Destinations In March 2022, Brazil exported mostly to China ($9.17B), United States ($2.9B), Argentina ($1.2B), Netherlands ($1.04B), and Chile ($815M), and imported mostly from China ($5.05B), United States ($3.81B), Argentina ($973M), Germany ($934M), and South Korea ($615M).
Growth In March 2022, the increase in Brazil's year-by-year exports was explained primarily by an increase in exports to China ($473M or 12.9%), Argentina ($166M or 28%), and Indonesia ($163M or 122%), and product exports increase in Iron Ore ($1.06B or 60.8%), Raw Sugar ($138M or 29.3%), and Coffee ($110M or 30.6%). In March 2022, the increase in Brazil's year-by-year imports was explained primarily by an increase in imports from Japan ($330M or 93.3%), Paraguay ($172M or 148%), and Argentina ($133M or 20.1%), and product imports increase in Electricity ($294M or 8.48k%), Vehicle Parts ($166M or 44.5%), and Gas Turbines ($165M or 166%).
EXPORT GROWTH (March 2021 - March 2022): $4.73B, (19.5%)
IMPORT GROWTH (March 2021 - March 2022): $3.85B, (21.5%)
MAIN EXPORTER (March 2022): São Paulo, $5.59B
MAIN DESTINATION (March 2022): China, $9.17B
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 2020, Brazil exported a total of $214B, making it the number 25 exporter in the world. During the last five reported years the exports of Brazil have changed by $20.9B from $193B in 2015 to $214B in 2020.
The most recent exports are led by Soybeans ($28.6B), Iron Ore ($26.5B), Crude Petroleum ($19.8B), Raw Sugar ($8.95B), and Frozen Bovine Meat ($6.69B). The most common destination for the exports of Brazil are China ($67.9B), United States ($21.9B), Argentina ($8.57B), Netherlands ($6.7B), and Canada ($4.39B).
Top Import (2020): Refined Petroleum, $7.91B
Top Origin (2020): China, $36.4B
In 2020 Brazil imported $160B, making it the number 29 trade destination in the world. During the last five reported years the imports of Brazil changed by -$12.3B from $173B in 2015 to $160B in 2020.
The most recent imports of Brazil are led by Refined Petroleum ($7.91B), Vehicle Parts ($5.42B), Pesticides ($3.73B), Integrated Circuits ($3.66B), and Packaged Medicaments ($3.2B). The most common import partners for Brazil are China ($36.4B), United States ($29.3B), Germany ($9.71B), Argentina ($7.67B), and South Korea ($4.59B).
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).
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:
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 Rio de Janeiro (0.16), São Paulo (0.11), and Rio Grande do Sul (-0.094).
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).
Brazil has a high level of specialization in Soybeans (34.9), Raw Sugar (27.9), Frozen Bovine Meat (19.4), Soybean Meal (19), and Pig Iron (18.7). 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 Artificial filament tow (1.42), Carboxyimide-function and imine-function compounds (1.37), Tools for working in the hand, non-electric motor (1.37), Metal-rolling mills and rolls thereof (1.16), and Molybdenum and articles thereof, waste or scrap (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, are Sorghum (0.24), Other Ores (0.24), Coal Briquettes (0.24), Wool (0.23), and Precious Metal Ore (0.23). 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 23rd to the 47th 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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