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Southern Common Market

Exports (2022)$450B
Imports (2022)$376B
Main Exporter (2022)Brazil $341B
Main Importer (2022)Brazil$270B
Internal Trade (2022)10.3%of total trade

About

Overview MERCOSUR (Southern Common Market) is a Trade Bloc composed by Brazil, Argentina, Uruguay, and Paraguay. In 2022, MERCOSUR exported $450B (1.9% of global exports) and imported $376B (1.59% of global imports). Its largest exporter, Brazil exported $341B, which corresponds to 75.7% of the total exports. On the other hand, the largest importer, Brazil, imported $270B, which is 71.7% of the total imports of Southern Common Market.

Trade In 2022, MERCOSUR's most exported products were Soya beans ($52.5B), Petroleum oils, oils from bituminous minerals, crude ($46.4B), Iron ore, concentrate, not iron pyrites,unagglomerate ($26.8B), Soya-bean oil-cake and other solid residues ($23B), and Maize except seed corn ($22.6B). The same year, the most imported products were Oils petroleum, bituminous, distillates, except crude ($31.9B), Petroleum oils, oils from bituminous minerals, crude ($10.7B), Potassium chloride, in packs >10 kg ($7.65B), Transmit-receive apparatus for radio, TV, etc. ($6.74B), and Monolithic integrated circuits, digital ($5.37B).

Partners In 2022, MERCOSUR's exports went primarly to China ($101B), United States ($44.7B), Argentina ($18.3B), Brazil ($18.3B), and Netherlands ($15.9B). The same year, MERCOSUR's imported primarily from China ($87.3B), United States ($64.4B), Brazil ($22.1B), Germany ($16.8B), and Argentina ($15.5B).

Latest Trends

Latest Data

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The following section shows the trade patterns over time for countries that comprise the organization.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Organization Composition

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Value

The following section shows the trade patterns over time for all the countries that comprise the organization, using historical dataset.

Yearly Exports of MERCOSUR

Internal Trade

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Internal Trade includes all trade between the countries that comprise this organization.

In 2022, the top internal exports of MERCOSUR were Cars ($4.04B), Delivery Trucks ($3.59B), Electricity ($2.3B), Motor vehicles; parts and accessories (8701 to 8705) ($1.92B), and Soybeans ($1.66B).

The same year, the principal destinations of internal exports were Argentina ($18.3B), Brazil ($18.3B), Paraguay ($4.91B), and Uruguay ($4.69B).

Internal Exports (2021)
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Internal Destinations (2021)
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External Trade

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External trade includes all world trade excluding the countries that comprise this organization.

In 2022, the top external exports of MERCOSUR were China ($101B), United States ($44.7B), Netherlands ($15.9B), Chile ($15.6B), and Spain ($11.7B).

The same year, the principal destinations of external exports were Soybeans ($50.8B), Crude Petroleum ($45.6B), Iron Ore ($29.6B), Soybean Meal ($22.8B), and Corn ($22.5B).

External Exports (2021)
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External Destinations (2021)
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Total Trade

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Depth
Top Export (2022)Soybeans$52.5B
Top Destination (2022)China$101B

In 2022, MERCOSUR exported a total of $450B. During the last five reported years the exports of MERCOSUR have changed by $150B from $300B in 2017 to $450B in 2022.

The most recent exports are led by Soybeans ($52.5B), Crude Petroleum ($46.4B), Iron Ore ($30.2B), Corn ($23.3B), and Soybean Meal ($23B). The most common destination for the exports of MERCOSUR are China ($101B), United States ($44.7B), Argentina ($18.3B), Brazil ($18.3B), and Netherlands ($15.9B).

Exports (2021)
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Destinations (2021)
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Largest Export by Country

Indicator

The following visualization shows the principal export per country, the product which has grown the most over the past 5 years or the product in which the country has a higher level of specialization, measured by the RCA Index.

Biggest export by country (2021)

Trade between organizations

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This visualization show trade between international organizations. The default selection shows the trade with the rest of the world.

Exports (2021)

Destinations (2021)

Economic Complexity

Complexity and Country Indicators

Indicator

This visualization compares the Economic Complexity Index (ECI) with different indicators about country development such as GDP per capita or Inflation. For more information about ECI, check the Methods page.

In 2022, the countries with higher complexity that belong to Southern Common Market were Brazil (0.34), Uruguay (0.17), Argentina (0.015), and Paraguay (-0.35).

On the other hand, the countries with higher GDP per capita were Uruguay ($20.8k), Argentina ($13.7k), Brazil ($8.92k), and Paraguay ($6.15k).

Finally, the biggest exporters of MERCOSUR were Brazil ($341B), Argentina ($87.2B), Uruguay ($12B), and Paraguay ($10.1B).

GDP per capita v/s ECI for countries that comprise Southern Common Market (2022)

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