Minas GeraisState in Brazil
2020 Economic Complexity : -0.42, Rank 7 of 23
Dec 2022 Trade Exports | Imports: $2.78B | $1.32B, 3 of 28 | 6 of 27
Dec 2022 Country Destination | Origin: China | China , $882M | $358M
Dec 2022 Product Exports | Imports: Iron ore, concentrate, not iron pyrites,unagglomerate | Coke, semi-coke of coal, lignite, peat & retort..., $773M | $59.5M
Overview This page contains the latest international trade data for Minas Gerais. In December 2022 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 $38.2B, 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 $13.1B, 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.
December, 2022
Overview In December 2022 Minas Gerais exported $2.78B and imported $1.32B, resulting in a positive trade balance of $1.46B. Between December 2021 and December 2022 the exports of Minas Gerais have decreased by $-138M (-4.75%) from $2.92B to $2.78B, while imports increased by $20.3M (1.56%) from $1.3B to $1.32B.
Trade In December 2022, the top exports of Minas Gerais were Iron Ore ($773M), Coffee ($569M), Gold ($202M), Ferroalloys ($167M), and Frozen Bovine Meat ($101M). In December 2022 the top imports of Minas Gerais were Coal Briquettes ($73M), Coke ($59.5M), Delivery Trucks ($49.9M), Nitrogenous Fertilizers ($47.8M), and Mixed Mineral or Chemical Fertilizers ($39.9M).
Destinations In December 2022, Minas Gerais exported mostly to China ($882M), United States ($294M), Argentina ($138M), Canada ($131M), and Netherlands ($107M), and imported mostly from China ($358M), United States ($164M), Italy ($62.4M), Argentina ($60.5M), and Mexico ($55.2M).
Growth In December 2022, the decrease in Minas Gerais's year-by-year exports was explained primarily by an decrease in exports to China ($-232M or -25.6%), United Kingdom ($-38M or -32.7%), and Malaysia ($-33M or -76.4%), and product exports decrease in Iron Ore ($-407M or -37%), Gold ($-28M or -17.6%), and Pig Iron ($-24M or -26%). In December 2022, 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 (December 2021 - December 2022): $-138M, (-4.75%)
IMPORT GROWTH (December 2021 - December 2022): $20.3M, (1.56%)
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 ($4.07B), Argentina ($1.84B), Germany ($1.81B), and Netherlands ($1.47B).
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).
Fastest Growing Exports Destination (Dec 2021 - Dec 2022)
Rapidly Declining Export Origins (Dec 2021 - Dec 2022)
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 (146.9), Coffee (102.3), Other Mineral (57.3), Iron Ore (44.8), and Worked Slate (38.1).
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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