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.
October, 2021
Overview In October 2021 Brazil exported $22.5B and imported $20.5B, resulting in a positive trade balance of $2B. Between October 2020 and October 2021 the exports of Brazil have increased by $4.79B (27%) from $17.7B to $22.5B, while imports increased by $8.14B (65.7%) from $12.4B to $20.5B.
Trade In October 2021, the top exports of Brazil were Iron Ore ($3.21B), Crude Petroleum ($2.71B), Soybeans ($1.72B), Raw Sugar ($811M), and Refined Petroleum ($798M). In October 2021 the top imports of Brazil were Refined Petroleum ($1.82B), Blood, antisera, vaccines, toxins and cultures ($812M), Mixed Mineral or Chemical Fertilizers ($706M), Potassic Fertilizers ($623M), and Nitrogenous Fertilizers ($573M).
Origins In October 2021 the exports of Brazil were mainly from São Paulo ($4.07B), Minas Gerais ($2.69B), Rio de Janeiro ($2.5B), Pará ($2.05B), and Rio Grande do Sul ($2.05B), while imports destinations were mainly São Paulo ($5.54B), Rio de Janeiro ($2.19B), Santa Catarina ($2.11B), Paraná ($1.44B), and Rio Grande do Sul ($1.24B).
Destinations In October 2021, Brazil exported mostly to China ($5.81B), United States ($2.99B), Argentina ($1.13B), Chile ($695M), and Netherlands ($658M), and imported mostly from China ($4.42B), United States ($3.53B), Argentina ($1.22B), Germany ($959M), and Russia ($692M).
Growth In October 2021, the increase in Brazil's year-by-year exports was explained primarily by an increase in exports to United States ($1.01B or 50.6%), China ($742M or 14.6%), and Singapore ($438M or 224%), and product exports increase in Crude Petroleum ($1.44B or 114%), Soybeans ($834M or 94%), and Refined Petroleum ($605M or 314%). In October 2021, the increase in Brazil's year-by-year imports was explained primarily by an increase in imports from United States ($1.72B or 95.6%), China ($1.63B or 58.6%), and Russia ($464M or 204%), and product imports increase in Refined Petroleum ($1.22B or 200%), Blood, antisera, vaccines, toxins and cultures ($564M or 227%), and Mixed Mineral or Chemical Fertilizers ($465M or 192%).
EXPORT GROWTH (October 2020 - October 2021): $4.79B, (27%)
IMPORT GROWTH (October 2020 - October 2021): $8.14B, (65.7%)
MAIN EXPORTER (October 2021): São Paulo, $4.07B
MAIN DESTINATION (October 2021): China, $5.81B
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 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 (0.18), 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 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 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.