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Overview This page contains the latest international trade data for Minas Gerais. In December 2023 Minas Gerais was the number 3 in total exports and the number 5 in total imports in Brazil.

Exports In 2023, Brazil's Minas Gerais exported $40.2B, making it the 3rd largest exporter out of the 27 exporters in Brazil. In 2023 the top exports of Minas Gerais were Iron ore, concentrate, not iron pyrites,unagglomerate ($12.7B), Unroasted Coffee (Non-Decaffeinated) ($5.53B), Soya beans: other than seed, whether... ($3.26B), Ferro-niobium ($1.84B), and Sugars: cane sugar, raw, in solid... ($1.67B).

Imports In 2023, Brazil's Minas Gerais imported $17.6B, making it the 5th largest importer out of the 27 importers in Brazil. In 2023 top imports of Minas Gerais were Photovoltaic cells assembled in modules or... ($663M), Bituminous coal, not agglomerated ($505M), Micro Cars ($499M), Small Sized Cars ($427M), and Potassium chloride, in packs >10 kg ($393M).

Economic Complexity In 2023, the highest complexity exports of Minas Gerais according to the product complexity index (PCI) are Vehicle Bodies (including cabs) for the... (1), Steel Bars (0.64), Refractory Bricks (0.51), Calculators (0.51), Dissolving Grades Chemical Woodpulp (0.29), Other Metals (0.15), Iron Pipes (0.15), Hydrogen (0.13), Worked Slate (-0.048), and Carbides (-0.12). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)China$16B

In 2023 the top export destinations of Minas Gerais were China ($16B), United States ($3.62B), Argentina ($2.03B), Netherlands ($1.37B), and Germany ($1.19B).

In 2023 the top exports of Minas Gerais were Iron ore, concentrate, not iron pyrites,unagglomerate ($12.7B), Unroasted Coffee (Non-Decaffeinated) ($5.53B), Soya beans: other than seed, whether... ($3.26B), Ferro-niobium ($1.84B), and Sugars: cane sugar, raw, in solid... ($1.67B).

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Exports Dynamics

Fastest Growing Exports Destination (Dec 2022 - Dec 2023)
China $576M (63.4%)
Oman $36.9M (189%)
Mexico $36.5M (104%)
Rapidly Declining Export Origins (Dec 2022 - Dec 2023)
United Kingdom -$41.9M (-41%)
Argentina -$31.3M (-22.8%)
Bahrain -$28M (-29.4%)

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Yearly Imports

Color
Depth
Top Origin (2023)China$3.98B

In 2023 the top import origins of Minas Gerais were China ($3.98B), United States ($2.02B), Argentina ($1.46B), Italy ($738M), and Germany ($569M).

In 2023 the top imports of Minas Gerais were Photovoltaic cells assembled in modules or... ($663M), Bituminous coal, not agglomerated ($505M), Micro Cars ($499M), Small Sized Cars ($427M), and Potassium chloride, in packs >10 kg ($393M).

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Imports Dynamics

Fastest Growing Import Origins (Dec 2022 - Dec 2023)
Argentina $50.5M (83.4%)
Germany $23.8M (52%)
Japan $12.1M (49.5%)
Rapidly Declining Import Origins (Dec 2022 - Dec 2023)
China -$84.1M (-23.5%)
Colombia -$44.6M (-84.2%)
Mexico -$35.6M (-64.5%)

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Economic Complexity

Economic Complexity of Minas Gerais

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Economic Complexity (2023)-0.44

Minas Gerais ranks 7th out of the 27 states in Brazil according to ECI.

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

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Economic Complexity Ranking

Value

The economic complexity of a territory can change year to year. Minas Gerais it is in position 7th considering its ECI in the last year.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Minas Gerais already has a comparative advantage, are led by Manganese Ore (0.14), Tin Ores (0.13), Sorghum (0.12), Nickel Ore (0.11), and Coal Briquettes (0.11).

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Most Complex Products by PCI

The highest complexity exports of Minas Gerais according to the product complexity index (PCI) are Vehicle Bodies (including cabs) for the... (1), Steel Bars (0.64), Refractory Bricks (0.51), Calculators (0.51), Dissolving Grades Chemical Woodpulp (0.29), Other Metals (0.15), Iron Pipes (0.15), Hydrogen (0.13), Worked Slate (-0.048), and Carbides (-0.12). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Pig Iron (106.19), Other Mineral (104.27), Coffee (80.23), Other Metals (67.33), and Dissolving Grades Chemical Woodpulp (37.38).

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Product Space

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 Minas Gerais is 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.

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Relatedness Space

This network shows the products most related to the production structure of  Minas Gerais. These are products that tend to be co-exported with the products that Minas Gerais exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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Diversification Frontier

Depth
Filter

The Complexity-Relatedness diagram compares the risk and the strategic value of a territory'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. Bubble size corresponds to exports value by year 2020.

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