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Southern Common Market

Exports (2023)$447B
Imports (2023)$357B
Main Exporter (2023)Brazil $355B
Main Importer (2023)Brazil$253B
Internal Trade (2023)10.9%of total trade

About

Overview MERCOSUR (Southern Common Market) is a Trade Bloc composed by Brazil, Argentina, Paraguay, and Uruguay. In 2023, MERCOSUR exported $447B (1.98% of global exports) and imported $357B (1.58% of global imports). Its largest exporter, Brazil exported $355B, which corresponds to 79.5% of the total exports. On the other hand, the largest importer, Brazil, imported $253B, which is 71% of the total imports of Southern Common Market.

Trade In 2023, MERCOSUR's most exported products were Soya beans ($57.7B), Crude Petroleum Oils ($49.4B), Unagglomerated Iron Ore Concentrate (Excl. Iron Pyrites) ($30.4B), Maize except seed corn ($21.3B), and Soya-bean oil-cake and other solid residues ($20.2B). The same year, the most imported products were Bituminous Petroleum Distillates (Excl. Crude) ($24.9B), Crude Petroleum Oils ($10.5B), Radio/TV Transmit-Receive Apparatus ($6.58B), Potassium chloride, in packs >10 kg ($5.76B), and Soya beans ($5.54B).

Partners In 2023, MERCOSUR's exports went primarly to China ($114B), United States ($44.4B), Argentina ($21.8B), Brazil ($17B), and Chile ($15.8B). The same year, MERCOSUR's imported primarily from China ($80B), United States ($51.1B), Brazil ($24.2B), Germany ($17.1B), and Argentina ($14.7B).

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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Y-AXIS SCALE
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 2023, the top internal exports of MERCOSUR were Soybeans ($5.33B), Cars ($4.13B), Delivery Trucks ($3.55B), Motor vehicles; parts and accessories (8701 to 8705) ($2.21B), and Electricity ($2.07B).

The same year, the principal destinations of internal exports were Argentina ($21.8B), Brazil ($17B), Paraguay ($5.19B), and Uruguay ($4.8B).

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

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Depth

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

In 2023, the top external exports of MERCOSUR were China ($114B), United States ($44.4B), Chile ($15.8B), Netherlands ($13.7B), and Spain ($9.55B).

The same year, the principal destinations of external exports were Soybeans ($52.3B), Crude Petroleum ($48.3B), Iron Ore ($33.4B), Corn ($21.3B), and Soybean Meal ($20B).

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

Flow
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Depth
Top Export (2023)Soybeans$57.7B
Top Destination (2023)China$114B

In 2023, MERCOSUR exported a total of $447B. During the last five reported years the exports of MERCOSUR have changed by $118B from $329B in 2018 to $447B in 2023.

The most recent exports are led by Soybeans ($57.7B), Crude Petroleum ($49.4B), Iron Ore ($34B), Corn ($21.9B), and Soybean Meal ($20.2B). The most common destination for the exports of MERCOSUR are China ($114B), United States ($44.4B), Argentina ($21.8B), Brazil ($17B), and Chile ($15.8B).

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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Depth

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 2023, the countries with higher complexity that belong to Southern Common Market were Brazil (0.34), Uruguay (0.24), Argentina (0.0071), and Paraguay (-0.43).

On the other hand, the countries with higher GDP per capita were Uruguay ($22.8k), Argentina ($14.2k), Brazil ($10.3k), and Paraguay ($6.28k).

Finally, the biggest exporters of MERCOSUR were Brazil ($355B), Argentina ($68.3B), Paraguay ($12.2B), and Uruguay ($11B).

GDP per capita v/s ECI for countries that comprise Southern Common Market (2023)

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