Minas GeraisState in Brazil
2020 Economic Complexity : -0.42, Rank 7 of 23
Jan 2023 Trade Exports | Imports: $2.7B | $1.18B, 3 of 28 | 7 of 28
Jan 2023 Country Destination | Origin: China | China , $837M | $295M
Jan 2023 Product Exports | Imports: Iron ore, concentrate, not iron pyrites,unagglomerate | Urea, including aqueous solution in packs >10 kg..., $664M | $59.4M
Overview This page contains the latest international trade data for Minas Gerais. In January 2023 Minas Gerais was the number 3 in total exports and the number 5 in total imports in Brazil.
Exports In 2022, Brazil's Minas Gerais exported $40.2B, making it the 3rd largest exporter out of the 27 exporters in Brazil. In 2022 the top exports of Minas Gerais were Iron ore, concentrate, not iron pyrites,unagglomerate ($12.1B), Coffee, not roasted, not decaffeinated ($6.9B), Soya beans: other than seed, whether... ($3.32B), Ferro-niobium ($1.64B), and Pig iron, non-alloy, <0.5% phosphorus ($1.62B).
Imports In 2022, Brazil's Minas Gerais imported $17.6B, making it the 5th largest importer out of the 27 importers in Brazil. In 2022 top imports of Minas Gerais were Bituminous coal, not agglomerated ($939M), Potassium chloride, in packs >10 kg ($832M), Coke, semi-coke of coal, lignite, peat... ($815M), Photovoltaic cells assembled in modules or... ($744M), and Small Sized Cars ($476M).
Economic Complexity In 2020, the highest complexity exports of Minas Gerais according to the product complexity index (PCI) are Other Metals (0.42), Hydrogen (0.26), Worked Slate (-0.083), Pig Iron (-0.77), and Soybeans (-1.06). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
January, 2023
Overview In January 2023 Minas Gerais exported $2.7B and imported $1.18B, resulting in a positive trade balance of $1.53B. Between January 2022 and January 2023 the exports of Minas Gerais have increased by $288M (11.9%) from $2.42B to $2.7B, while imports increased by $50.6M (4.5%) from $1.13B to $1.18B.
Trade In January 2023, the top exports of Minas Gerais were Iron Ore ($671M), Coffee ($524M), Ferroalloys ($218M), Gold ($125M), and Sulfate Chemical Woodpulp ($109M). In January 2023 the top imports of Minas Gerais were Nitrogenous Fertilizers ($82.8M), Delivery Trucks ($68.3M), Coal Briquettes ($32.8M), Motor vehicles; parts and accessories (8701... ($28.5M), and Semiconductor Devices ($25M).
Destinations In January 2023, Minas Gerais exported mostly to China ($837M), United States ($340M), Germany ($160M), Argentina ($145M), and Netherlands ($129M), and imported mostly from China ($295M), United States ($145M), Italy ($66.8M), Mexico ($59.1M), and Argentina ($44.9M).
Growth In January 2023, the increase in Minas Gerais's year-by-year exports was explained primarily by an increase in exports to United States ($82M or 50.5%), Netherlands ($53.7M or 79.8%), and Argentina ($41.5M or 65.5%), and product exports increase in Coffee ($169M or 46.5%), Soybeans ($81.2M or 71.1k%), and Hot-Rolled Iron ($40.5M or 17k%). In January 2023, the increase in Minas Gerais's year-by-year imports was explained primarily by an increase in imports from China ($206M or 112%), United States ($64.8M or 73.8%), and Australia ($47.4M or 5.57k%), and product imports increase in Coal Briquettes ($101M or 287%), Semiconductor Devices ($51.8M or 872%), and Excavation Machinery ($37.5M or 383%).
EXPORT GROWTH (January 2022 - January 2023): $288M, (11.9%)
IMPORT GROWTH (January 2022 - January 2023): $50.6M, (4.5%)
This section shows exports and imports data at subnational level for Minas Gerais. 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 Minas Gerais over time.
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Top Destination (2022): China, $14.4B
Top Product (2022): Iron ore, concentrate, not iron pyrites,unagglomerate, $12.1B
In 2022 the top export destinations of Minas Gerais were China ($14.4B), United States ($4.08B), Argentina ($1.84B), Germany ($1.82B), and Netherlands ($1.49B).
In 2022 the top exports of Minas Gerais were Iron ore, concentrate, not iron pyrites,unagglomerate ($12.1B), Coffee, not roasted, not decaffeinated ($6.9B), Soya beans: other than seed, whether... ($3.32B), Ferro-niobium ($1.64B), and Pig iron, non-alloy, <0.5% phosphorus ($1.62B).
Top Origin (2022): China, $5.11B
Top Import (2022): Bituminous coal, not agglomerated, $939M
In 2022 the top import origins of Minas Gerais were China ($5.11B), United States ($2.29B), Argentina ($1.2B), Russia ($903M), and Italy ($676M).
In 2022 the top imports of Minas Gerais were Bituminous coal, not agglomerated ($939M), Potassium chloride, in packs >10 kg ($832M), Coke, semi-coke of coal, lignite, peat... ($815M), Photovoltaic cells assembled in modules or... ($744M), and Small Sized Cars ($476M).
Economic Complexity (2022): -0.42
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.
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.
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), Raw Cotton (0.11), Coal Briquettes (0.11), Crude Petroleum (0.11), and Rice (0.1).
The highest complexity exports of Minas Gerais according to the product complexity index (PCI) are Other Metals (0.42), Hydrogen (0.26), Worked Slate (-0.083), Pig Iron (-0.77), and Soybeans (-1.06). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Pig Iron (146.3), Coffee (101.9), Other Mineral (58.1), Iron Ore (44.8), and Worked Slate (37.9).
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.
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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