Brazil Import Export Data: Brazil is one of the leading import-export countries, who does it trade with?
Brazil is the largest country in South America with coverage of 852k square kilometers. It is also acknowledged as the Federative Republic of Brazil. In 2019, Brazil’s agricultural sector trend and a high-end import and export of agricultural products came into the spotlight. It was concluded that in the given year, the agricultural sector of the country contributed Brazil’s import-export data by 20% of total export revenue. Not only this but in 2018, the value of agribusiness-based products was 4.3% higher. The same sector covers up to 10% of the country's annual Gross Domestic Product.
In comparison to agricultural product’s exports from Brazil, its import is very less. Import Data Brazil in 2019 revealed that the country only imported 13 billion USD worth of agri-products. Whereas, the export was over 97 billion USD.
It is noteworthy to mention that the Federative Republic of Brazil is not leading in international trade as its import-export data remains at 14% GDP coverage. In 2021, a surplus in Brazil’s trade data was observed. It is around 41 billion USD. Henceforth, it can be assumed that in the upcoming years, Brazil holds high potential to attract trade relationships with strong and wealthy countries like China and Japan.
Here are a few custom data Brazil facts and FAQs to eye when you are thinking to register as an importer or exporter in Brazil:
What are Brazil’s main Exports and Imports?
Wondering what Brazil imports and exports at the largest volume? Check out the following brief list of Brazil’s top 5 exports and imports alongside its growth rate and total coverage:
Brazil’s top 5 exports list:
- Oil Seeds (since 1978, Oil seeds production in Brazil has increased 15 times), worth: 29 billion USD, total coverage: 14% approximately, growth rate since 2019: 9%
- Iron Ore Slag and Ash (exports of Brazil’s Iron Ore Slag and Ash have decreased from 43 million USD IN 2011 to 28Million USD in 2020), worth: 28 billion USD, Total coverage: 13.8%, growth rate: 17.1% since 2019.
- Oil & Gas, other mineral fuels (worth: 24.7 billion USD, total coverage: 11.8%, and growth rate: 74.3%)
- Animal Meat (worth: 15.6 billion USD, total coverage: 7.5% and growth rate: 4.6%)
- Sugar and related confectionaries (worth: 8.9 billion USD, total coverage: 4.2%, growth rate: 65.9%)
Brazil’s top 5 imports list:
- Electrical Apparatus, Machinery and Pieces of Equipments (worth: 20.6 billion USD, Total coverage: 12.9%)
- Electronic or Smart Devices like Computers (worth: 19.9 billion USD, total coverage: 12.5%)
- Oil & Gas, other mineral fuels (worth: 14.1 billion USD, total coverage: 8.9%)
- Organic chemicals like Heterocyclic compounds (worth: 10.4 billion USD, total coverage: 6.6%)
- Water transport vehicles like Ships and Boats (worth: 10.2 billion USD, total coverage: 6.4%)
According to the research, the largest part of Brazil’s imports is covered by Electrical Machinery and equipment. So, where does Brazil’s import come from? Brazil mainly trades with China, Germany, the USA, Argentina, Korea, Italy, Costa Rica, UK, and India.
To your surprise, Brazil is indeed one of the rare countries which trade with over 30 countries and islands all over the world including India. From India, Brazil imports Reliance-branded crude oil, Soy Oil, and Sugar.
Henceforth, Brazil is seeking to develop in the context of international trade. It is apparently a good year to begin an import-export business in Brazil.
For more custom data Brazil, visit www.Cybex.in.