Brazil2020 Economic Complexity : 0.44, Rank 47 of 127
2020 Product Exports | Imports: $214B | $160B, 25 of 226 | 29 of 226
2020 Per Capita Product Exports | Imports: $1.01k | $755, 116 of 219 | 158 of 219
2019 Service Exports | Imports : $33.8B | $69B, 33 of 108 | 22 of 108
Overview In 2020, Brazil was the number 12 economy in the world in terms of GDP (current US$), the number 25 in total exports, the number 29 in total imports, the number 100 economy in terms of GDP per capita (current US$) and the number 47 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Brazil are Soybeans ($28.6B), Iron Ore ($26.5B), Crude Petroleum ($19.8B), Raw Sugar ($8.95B), and Frozen Bovine Meat ($6.69B), exporting mostly to China ($67.9B), United States ($21.9B), Argentina ($8.57B), Netherlands ($6.7B), and Canada ($4.39B).
In 2020, Brazil was the world's biggest exporter of Soybeans ($28.6B), Raw Sugar ($8.95B), Frozen Bovine Meat ($6.69B), Sulfate Chemical Woodpulp ($5.84B), and Poultry Meat ($5.59B)
Imports The top imports of Brazil are Refined Petroleum ($7.91B), Motor vehicles; parts and accessories (8701 to 8705) ($5.42B), Pesticides ($3.73B), Integrated Circuits ($3.66B), and Packaged Medicaments ($3.2B), importing mostly from China ($36.4B), United States ($29.3B), Germany ($9.71B), Argentina ($7.67B), and South Korea ($4.59B).
In 2020, Brazil was the world's biggest importer of Pesticides ($3.73B), Mixed Mineral or Chemical Fertilizers ($2.46B), Malt ($443M), Phosphatic Fertilizers ($372M), and Hydrazine or Hydroxylamine Derivatives ($203M)
Location Brazil borders Argentina, Bolivia, Paraguay, Peru, Suriname, Uruguay, and Venezuela by land.
December, 2022
Overview In December 2022 Brazil exported $26.6B and imported $21.9B, resulting in a positive trade balance of $4.78B. Between December 2021 and December 2022 the exports of Brazil have increased by $2.29B (9.39%) from $24.4B to $26.6B, while imports increased by $1.45B (7.09%) from $20.4B to $21.9B.
Trade In December 2022, the top exports of Brazil were Crude Petroleum ($4.67B), Iron Ore ($2.07B), Corn ($1.87B), Soybeans ($1.25B), and Raw Sugar ($948M). In December 2022 the top imports of Brazil were Refined Petroleum ($2.57B), Crude Petroleum ($1.19B), Vaccines, blood, antisera, toxins and cultures ($630M), Nitrogenous Fertilizers ($609M), and Motor vehicles; parts and accessories (8701... ($513M).
Origins In December 2022 the exports of Brazil were mainly from São Paulo ($5.79B), Rio de Janeiro ($3.36B), Minas Gerais ($2.78B), Mato Grosso ($1.99B), and Rio Grande do Sul ($1.92B), while imports destinations were mainly São Paulo ($6.33B), Santa Catarina ($2.41B), Rio de Janeiro ($2.04B), Rio Grande do Sul ($1.69B), and Paraná ($1.65B).
Destinations In December 2022, Brazil exported mostly to China ($6.53B), United States ($3.6B), Argentina ($978M), Netherlands ($779M), and Chile ($704M), and imported mostly from China ($4.72B), United States ($3.84B), Germany ($1.09B), Argentina ($981M), and India ($906M).
Growth In December 2022, the increase in Brazil's year-by-year exports was explained primarily by an increase in exports to United States ($770M or 54%), Singapore ($399M or 128%), and India ($321M or 201%), and product exports increase in Soybeans ($1.22B or 5.24k%), Crude Petroleum ($560M or 35.2%), and Refined Petroleum ($546M or 140%). In December 2022, the increase in Brazil's year-by-year imports was explained primarily by an increase in imports from China ($1.64B or 47.1%), United States ($1.56B or 61.8%), and Saudi Arabia ($286M or 726%), and product imports increase in Petroleum Gas ($1.13B or 424%), Refined Petroleum ($582M or 66.7%), and Crude Petroleum ($440M or 455%).
EXPORT GROWTH (December 2021 - December 2022): $2.29B, (9.39%)
IMPORT GROWTH (December 2021 - December 2022): $1.45B, (7.09%)
MAIN EXPORTER (December 2022): São Paulo, $5.79B
MAIN DESTINATION (December 2022): China, $6.53B
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, destination or origin country to explore the exports or imports behavior of Brazil over time.
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In 2020, Brazil exported a total of $214B, making it the number 25 exporter in the world. During the last five reported years the exports of Brazil have changed by $20.9B from $193B in 2015 to $214B in 2020.
The most recent exports are led by Soybeans ($28.6B), Iron Ore ($26.5B), Crude Petroleum ($19.8B), Raw Sugar ($8.95B), and Frozen Bovine Meat ($6.69B). The most common destination for the exports of Brazil are China ($67.9B), United States ($21.9B), Argentina ($8.57B), Netherlands ($6.7B), and Canada ($4.39B).
Brazil Exports Services (2019): $33.8B
Brazil Imports Services (2019): $69B
In 2019, Brazil exported $33.8B worth of services. The top services exported by Brazil in 2019 were Other business services ($15.8B), Transportation ($5.56B), Personal travel ($4.31B), Computer and information services ($2.57B), and Business travel ($1.68B).
The top services imported by Brazil in 2019 were Other business services ($24.5B), Personal travel ($12.8B), Transportation ($11.5B), Computer and information services ($5.4B), and Royalties and license fees ($5.25B).
This section shows exports, imports and economic complexity data at the subnational level for Brazil. Click any of the State in the geomap to visit the specific subnational profile.
The top territories of Brazil according to its Economic Complexity Index are Rio de Janeiro (0.17), São Paulo (0.1), and Rio Grande do Sul (-0.094).
In 2020, the principal exporters of Brazil were São Paulo ($42.5B), Minas Gerais ($26.3B), and Rio de Janeiro ($22.6B).
The same year, the principal importers of Brazil were São Paulo ($54.1B), Rio de Janeiro ($18.5B), and Santa Catarina ($16.1B).
Brazil has a high level of specialization in Soybeans (34.9), Raw Sugar (27.9), Frozen Bovine Meat (19.4), Soybean Meal (19), and Pig Iron (18.7). Specialization is measured using RCA, an index that takes the ratio between Brazil observed and expected exports in each product.
The highest complexity exports of Brazil according to the product complexity index (PCI) are Artificial Filament Tow (1.42), Carboxyimide Compounds (1.37), Motor-working Tools (1.37), Metal-Rolling Mills (1.16), and Molybdenum (1.1). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Brazil according to the relatedness index, are Sorghum (0.24), Other Ores (0.24), Coal Briquettes (0.24), Wool (0.23), and Precious Metal Ore (0.23). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Brazil is not specialized in.
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 countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Brazil's economy has become relatively less complex, moving from the 23rd to the 47th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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