Year over year, the overall cost of goods imported into Brazil accelerated by 24.3% from $219.4 billion in 2021.
Based on the average exchange rate for 2022, the Brazilian real has depreciated by -41.3% against the US dollar since 2018 but rose by 4.3% from 2021 to 2022. Brazil’s weaker local currency compared to 2018 made Brazilian imports paid for in stronger US dollars relatively more expensive when converted starting from the Brazilian real.
Domestically, Brazil’s inflation rate for average consumer prices increased by 9.409% from 2021 to 2022.
Brazil spends most on imported products led by processed petroleum oils, crude oil, potassic fertilizers, fertilizer mixes, then automobile parts or accessories. Those 5 leading products represented over one-fifth (21.1%) of Brazil’s total imports by spending in 2022.
Brazil’s Best International Trade Suppliers
The latest available country-specific data shows that 70.8% of products imported into Brazil were supplied by exporters in: mainland China (35.6% of Brazil’s global total), United States of America (7.5%), Argentina (5.2%), Germany (5.1%), India (4%), Russia (2.8%), Italy (2.7%), South Korea (2.2%), Japan (also 2.2%), Saudi Arabia (1.8%), Mexico (1.7%) and Canada (1.3%).
Applying a continental lens, 40% of Brazil’s total imports by value in 2022 were purchased from Asian countries. Trade partners in North America supplied 22.8% of imports sold to Brazil while another 21.6% was provided by exporters in Europe.
Fellow Latin America nations plus the Caribbean but excluding Mexico furnished 11.4% worth.
Smaller percentages came from suppliers in Africa (3.1%) and Oceania (1%) led by Australia.
Given Brazil’s population of 213.9 million people, its total $272.7 billion in 2022 imported goods translates to roughly $1,300 in yearly product demand from every person in the South American nation. That per-capita amount exceeds the average $1,050 for 2021.
Brazil’s Top 10 Imports
The following product groups represent the highest dollar value in Brazil’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Brazil.
- Mineral fuels including oil: US$49.5 billion (18.2% of total imports)
- Machinery including computers: $33.9 billion (12.4%)
- Electrical machinery, equipment: $31.6 billion (11.6%)
- Fertilizers: $24.8 billion (9.1%)
- Organic chemicals: $18.3 billion (6.7%)
- Vehicles: $16.4 billion (6%)
- Plastics, plastic articles: $10.3 billion (3.8%)
- Pharmaceuticals: $9.9 billion (3.6%)
- Other chemical goods: $9.5 billion (3.5%)
- Optical, technical, medical apparatus: $6.9 billion (2.5%)
Brazil’s top 10 imports account for over three-quarters (77.4%) of the overall value of its product purchases from other countries.
The fastest growers among Brazil’s costliest imported product categories are fertilizers (up 63.4% from 2021), mineral fuels including oil (up 62.8%), miscellaneous chemical goods (up 48.6%), organic chemicals (up 38.3%), then machinery including computers (up 15.5%).
The sole decline was the -9.9% reduction for Brazilian spending on imports dragged down by a -9.9% slowdown from 2021 to 2022.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the section below is at the more granular 4-digit product code level.
Brazil’s Costliest Fuel Imports
In 2022, Brazilian importers spent the most on the following 10 subcategories of mineral fuels-related goods.
- Processed petroleum oils: US$23.6 billion (up 75.4% from 2021)
- Crude oil: $9.9 billion (up 148.2%)
- Petroleum gases: $6.3 billion (up 6.4%)
- Coal, solid fuels made from coal: $5.5 billion (up 100.2%)
- Coke, semi-coke: $1.5 billion (up 147.6%)
- Electrical energy: $1.5 billion (down -49.4%)
- Petroleum oil residues: $800.7 million (up 77.8%)
- Coal tar oils (high temperature distillation): $246.6 million (up 37.8%)
- Tar pitch, coke: $105 million (up 139.6%)
- Petroleum jelly, mineral waxes: $79 million (down -30.8%)
Among these import subcategories, Brazilian purchases of crude oil (up 148.2%), coke or semi-coke (up 147.6%) then tar pitch or coke (up 139.6%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Brazilian businesses and consumers.
Brazil’s Costliest Machinery Imports Including Computers
In 2022, Brazilian importers spent the most on the following 10 subcategories of machinery including computers.
- Turbo-jets: US$5.7 billion (up 36.2% from 2021)
- Transmission shafts, gears, clutches: $2.3 billion (up 12.5%)
- Computers, optical readers: $1.8 billion (up 25.5%)
- Taps, valves, similar appliances: $1.7 billion (up 4%)
- Piston engine parts: $1.6 billion (up 6.5%)
- Machinery parts: $1.4 billion (up 24.6%)
- Computer parts, accessories: $1.3 billion (down -25%)
- Centrifuges, filters and purifiers: $1.2 billion (up 18.7%)
- Air or vacuum pumps: $1.18 billion (down -0.6%)
- Engines (diesel): $1.1 billion (up 12.5%)
Among these import subcategories, Brazilian purchases of turbo-jets (up 36.2%), computers including optical readers (up 25.5%) then machinery parts (up 24.6%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Brazilian businesses and consumers.
Brazil’s Costliest Electronics Imports
In 2022, Brazilian importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.
- Integrated circuits/microassemblies: US$5.8 billion (up 13.8% from 2021)
- Solar power diodes/semi-conductors: $5.6 billion (up 101.7%)
- Phone system devices: $4.5 billion (up 1.8%)
- Electrical converters/power units: $1.9 billion (up 30.8%)
- Lower-voltage switches, fuses: $1.3 billion (up 5.2%)
- TV/radio/radar device parts: $1.2 billion (down -48.1%)
- Insulated wire/cable: $1.2 billion (up 4.4%)
- Electric motors, generators: $852.3 million (down -3.5%)
- Recorded media: $838 million (2021 data unavailable)
- Electric storage batteries: $714.8 million (up 17.2%)
Among these import subcategories, Brazilian purchases of solar power diodes and semi-conductors (up 101.7%), electrical converters or power units (up 30.8%) then electric storage batteries (up 17.2%) grew at the fastest pace from 2021 to 2022..
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Brazilian businesses and consumers.
Brazil’s Costliest Fertilizer Imports
In 2022, Brazilian importers spent the most on the following subcategories of imported fertilizers.
- Potassic fertilizers: US$8.9 billion (up 109.6% from 2021)
- Fertilizer mixes: $7.7 billion (up 38.3%)
- Nitrogenous fertilizers: $6.7 billion (up 52.8%)
- Phosphatic fertilizers: $1.4 billion (up 54.5%)
- Packaged animal/vegetable fertilizers: $21.9 million (down -0.9%)
Among these import subcategories, Brazilian purchases of potassic fertilizers (up 109.6%), phosphatic fertilizers (up 54.5%) then nitrogenous fertilizers (up 52.8%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentages within parenthesis clearly show where the declining demand lies for different types of imported fertilizers among Brazilian businesses and consumers.
See also Brazil’s Top 10 Major Export Companies, Brazil’s Top Trading Partners, Brazil’s Top 10 Exports and Top South American Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on March 27, 2023
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on March 27, 2023
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on March 27, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 27, 2023
International Trade Centre, Trade Map. Accessed on March 27, 2023
