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2023
Flag → Flag
Exports $8.46BRnk 6 / 221
2023
Flag → Flag
Top Product $1.16BCars
2023
Flag → Flag
Exports $5.65BRnk 7 / 158
2023
Flag → Flag
Top Product $727MMotor vehicles; parts and accessories (8701 to 8705)
2023
Flag
Economic Complexity (ECI) ECI 0.31Rnk 49 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.09Rnk 25 / 132
2023
Flag  
GDP$2.17TCURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP GROWTH-12.1%CURRENT US$
Rnk 184 / 195
2023
Flag
 GDP$1.79TCURRENT US$
Rnk 12 / 195
2013-2023
Flag
GDP GROWTH34.8%CURRENT US$
Rnk 103 / 195
2023
Flag
GDP PC $10,295CURRENT US$
Rnk 89 / 195
2013-2023
Flag
GDP PC GROWTH-17.4%CURRENT US$
Rnk 175 / 195
2023
Flag
GDP PC$13,790CURRENT US$
Rnk 75 / 196
2013-2023
Flag
GDP PC GROWTH22.9%CURRENT US$
Rnk 94 / 195

About

Brazil-Mexico Trade: In 2023, Brazil exported $8.46B to Mexico. The main products that Brazil exported to Mexico were Cars ($1.16B), Soybeans ($749M), and Delivery Trucks ($458M). Over the past 5 years the exports of Brazil to Mexico have increased at an annualized rate of 11.4%, from $4.93B in 2018 to $8.46B in 2023.

In 2023, Brazil did not export any services to Mexico.

Mexico-Brazil Trade: In 2023, Mexico exported $5.65B to Brazil. The main products that Mexico exported to Brazil were Motor vehicles; parts and accessories (8701 to 8705) ($727M), Cars ($700M), and Delivery Trucks ($342M). Over the past 5 years the exports of Mexico to Brazil have increased at an annualized rate of 0.64%,  from $5.47B in 2018 to $5.65B in 2023.

In 2023, Mexico did not export any services to Brazil.

Comparison: In 2023,  Brazil ranked 49 in the Economic Complexity Index (ECI 0.31), and 22 in total exports ($355B). That same year, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B).

Latest Trends

December, 2024

About

Overview In December 2024, Brazil exported $591M and imported $486M from Mexico, resulting in a positive trade balance of $105M. Between December 2023 and December 2024 the exports of Brazil have increased by $82M (16.1%) from $509M to $591M, while imports increased by $48.2M (11%) from $438M to $486M.

Trade In December 2024, the top exports of Brazil to Mexico were Delivery Trucks ($35.3M), Iron Ore ($26.8M), Motor vehicles; parts and accessories (8701... ($20.8M), Engine Parts ($19M), and Cars ($18M). In December 2024 the top imports of Brazil from Mexico were Cars ($82.9M), Motor vehicles; parts and accessories (8701... ($65.7M), Delivery Trucks ($21M), Recreational Boats ($17.5M), and Polycarboxylic Acids ($13.7M).

Origins In December 2024 the exports of Brazil were mainly from São Paulo ($190M), Paraná ($74.9M), Minas Gerais ($71.9M), Espírito Santo ($63.7M), and Santa Catarina ($50.9M), while imports destinations were mainly São Paulo ($197M), Santa Catarina ($103M), Minas Gerais ($39.6M), Paraná ($37.8M), and Rio de Janeiro ($36.9M).

Growth In December 2024, the increase in Brazil's year-by-year exports to Mexico was explained primarily by an increase in product exports in Delivery Trucks ($24.7M or 235%), Coffee ($15.4M or 594%), and Iron Pipes ($12M or 423%). In December 2024, the increase in Brazil's year-by-year imports  from Mexico was explained primarily by an increase in product imports  in Cars ($44.4M or 116%), Motor vehicles; parts and accessories (8701... ($11M or 20%), and Polycarboxylic Acids ($10.8M or 373%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$82M(16.1%)
IMPORT GROWTH (December 2023 - December 2024)$48.2M(11%)
MAIN EXPORTER (December 2024)São Paulo$190M

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 to explore the exports or imports behavior of Brazil over time.

To check Mexico and Brazil trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mexico and Brazil Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Brazil exported $8.46B to Mexico. The main products exported from Brazil to Mexico were Cars ($1.16B), Soybeans ($749M), and Delivery Trucks ($458M). During the last 5 years the exports of Brazil to Mexico have increased at an annualized rate of 11.4%, from $4.93B in 2018 to $8.46B in 2023.

In 2018, Mexico exported $5.65B to Brazil. The main products exported from Mexico to Brazil were Motor vehicles; parts and accessories (8701 to 8705) ($727M), Cars ($700M), and Delivery Trucks ($342M). During the last 5 years the exports of Mexico to Brazil have increased at an annualized rate of 0.64%, from $5.47B in 2023 to $5.65B in 2018.

Exports from Brazil (Flag) to Mexico (Flag) (2023)

Exports from Mexico (Flag) to Brazil (Flag) (2023)

Market Competitiveness

Color
Brazil
Top DestinationChina$106B
Mexico
Top DestinationUnited States$456B

This map shows whether countries import more from Brazil or Mexico. Each country is colored based on the difference in imports they receive from Brazil and Mexico or the difference in the growth in imports.

In 2023, countries that imported more from Brazil than Mexico included China ($106B), Argentina ($17.2B), and Netherlands ($11.4B).

In 2023, countries that imported more from Mexico than Brazil included United States ($456B), Canada ($33B), and Germany ($10.7B).

Difference in imports from Mexico (Flag) and Brazil (Flag) (2023)

Comparative Advantage Brazil - Mexico

Flow
Scale

This chart compares trade between Brazil and Mexico by product, considering products traded by both, Brazil and Mexico.

During 2023, Brazil had a large net trade with Mexico in the exports of Transportation ($2.25B), Vegetable Products ($1.38B), and Machines ($1.36B).

During 2018, Mexico had a large net trade with Brazil in the exports of Transportation ($1.95B), Machines ($1.52B), and Chemical Products ($675M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Brazil Mexico+$207MSoybeans
Top Product Potential Mexico Brazil+$325MMotor vehicles; parts and accessories (8701 to 8705)

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Brazil and Mexico. This means that a dot/product with the flag of Brazil indicates it has a comparative advantage over Mexico. Similarly, a dot/product with the flag of Mexico indicates it has a comparative advantage over Brazil.

Product Space of Brazil (Flag) and Mexico (Flag) (2023)

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