Brazil2019 Economic Complexity : 0.51, Rank 49 of 146
2019 Product Exports | Imports: $230B | $177B, 25 of 225 | 27 of 225
2019 Per Capita Product Exports | Imports: $1.09k | $839, 120 of 219 | 159 of 219
2019 Service Exports | Imports : $33.8B | $69B, 12 of 69 | 9 of 69
Overview In 2019 Brazil was the number 9 economy in the world in terms of GDP (current US$), 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.
July, 2021
Overview In July 2021 Brazil exported $25.5B and imported $18.1B, resulting in a positive trade balance of $7.39B. Between July 2020 and July 2021 the exports of Brazil have increased by $6.07B (31.2%) from $19.5B to $25.5B, while imports increased by $6.63B (57.6%) from $11.5B to $18.1B.
Trade In July 2021, the top exports of Brazil were Iron Ore ($5.04B), Soybeans ($3.99B), Crude Petroleum ($1.95B), Soybean Meal ($873M), and Refined Petroleum ($849M). In July 2021 the top imports of Brazil were Refined Petroleum ($970M), Vehicle Parts ($640M), Crude Petroleum ($618M), Blood, antisera, vaccines, toxins and cultures ($525M), and Mixed Mineral or Chemical Fertilizers ($495M).
Origins In July 2021 the exports of Brazil were mainly from São Paulo ($4.04B), Minas Gerais ($3.8B), Pará ($2.91B), Rio Grande do Sul ($2.01B), and Rio de Janeiro ($1.89B), while imports destinations were mainly São Paulo ($5.92B), Santa Catarina ($2.07B), Rio de Janeiro ($1.84B), Paraná ($1.52B), and Rio Grande do Sul ($1.12B).
Destinations In July 2021, Brazil exported mostly to China ($8.32B), United States ($2.99B), Argentina ($1.08B), Netherlands ($856M), and Japan ($696M), and imported mostly from China ($3.91B), United States ($3.15B), Germany ($966M), Argentina ($914M), and India ($579M).
Growth In July 2021, the increase in Brazil's year-by-year exports was explained primarily by an increase in exports to United States ($1.29B or 75.6%), China ($1.1B or 15.2%), and Argentina ($379M or 54.1%), and product exports increase in Iron Ore ($2.64B or 110%), Soybeans ($530M or 15.3%), and Refined Petroleum ($437M or 106%). In July 2021, the increase in Brazil's year-by-year imports was explained primarily by an increase in imports from United States ($1.46B or 87.1%), China ($1.25B or 47.2%), and Germany ($364M or 60.6%), and product imports increase in Refined Petroleum ($519M or 115%), Vehicle Parts ($486M or 315%), and Crude Petroleum ($359M or 138%).
EXPORT GROWTH (July 2020 - July 2021): $6.07B, (31.2%)
IMPORT GROWTH (July 2020 - July 2021): $6.63B, (57.6%)
MAIN EXPORTER (July 2021): São Paulo, $4.04B
MAIN DESTINATION (July 2021): China, $8.32B
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 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).
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).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
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 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).
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.
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.
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.
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.
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.