The dollar amount for products exported from Brazil reflects a 39.4% gain compared to $239.9 billion in 2018.
Year over year, the overall value of Brazilian exports rose 19.1% from $280.8 billion in 2021.
Brazilian exports represents roughly 1.5% of overall global exported products for 2021 estimated at $22.144 trillion.
Almost half (49.1%) of the revenue that Brazil collected for its exports sold during 2022 came from a diverse subset of 5 trading partners namely mainland China, the United States of America, Argentina, the Netherlands and Spain.
Applying a continental lens, 48.1% of Brazil exports by value were delivered to Asian countries while 17.9% were sold to importers in Europe. Brazil shipped another 15% worth of goods to North America.
Smaller percentages went to Latin America (14.8%) excluding Mexico but including the Caribbean, Africa (3.8%) then Oceania (0.4%) led by Australia and Marshall Islands.
Brazil’s Top 25 Trading Partners
Below is a list showcasing 25 of Brazil’s top trading partners in terms of export sales, countries that imported the most Brazilian shipments by dollar value during 2022. Also shown is each import country’s percentage of total Brazilian exports.
- China: US$89.7 billion (26.8% of total Brazilian exports)
- United States: $37.6 billion (11.3%)
- Argentina: $15.3 billion (4.6%)
- Netherlands: $11.9 billion (3.6%)
- Spain: $9.8 billion (2.9%)
- Chile: $9.1 billion (2.7%)
- Singapore: $8.3 billion (2.5%)
- Mexico: $7.1 billion (2.1%)
- Japan: $6.6 billion (2%)
- India: $6.34 billion (1.9%)
- Germany: $6.27 billion (1.9%)
- South Korea: $6.2 billion (1.9%)
- Canada: $5.4 billion (1.6%)
- Colombia: $5.1 billion (1.5%)
- Italy: $4.8 billion (1.4%)
- Belgium: $4.4 billion (1.3%)
- Iran: $4.3 billion (1.3%)
- Portugal: $4.27 billion (1.3%)
- Malaysia: $3.84 billion (1.1%)
- United Kingdom: $3.7 billion (1.1%)
- France: $3.55 billion (1.1%)
- Türkiye: $3.55 billion (1.1%)
- Thailand: $3.52 billion (1.1%)
- Paraguay: $3.52 billion (1.1%)
- Peru: $3.48 billion (1.0%)
Four-fifths (80%) of Brazilian exports in 2022 were delivered to the above 25 trade partners.
Malaysia was the only top importers that decreased its purchases from Brazil from 2021 to 2022, down in value by -17.8%.
Among the other 24 countries, gains ranged from a minimum of 2.1% for mainland China up to 121.4% for Iran.
Countries Causing Brazil’s Worst Trade Deficits
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
In 2022, Brazil incurred the highest trade deficits with the following countries.
- United States: -US$14.1 billion (country-specific trade deficit in 2022)
- Germany: -$6.5 billion
- Russia: -$5.9 billion
- India: -$2.5 billion
- Saudi Arabia: -$2.4 billion
- Australia: -$1.9 billion
- France: -$1.41 billion
- Sweden: -$1.39 billion
- Taiwan: -$1.38 billion
- Switzerland: -$1.3 billion
Among Brazil’s trading partners that cause the greatest negative trade balances, Brazilian deficits with Switzerland (up 516.7%), Australia (up 225.2%) and Saudi Arabia (up 192.8%) grew at the fastest pace from 2021 to 2022.
These cashflow deficiencies clearly indicate Brazil’s competitive disadvantages with the above countries, but also represent key opportunities for Brazil to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Brazil’s Best Trade Surpluses
Brazil earned an overall $61.8 billion trade surplus during 2022, improving 0.6% from its $61.4 billion positive trade balance one year earlier in 2021.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
In 2022, Brazil generated the highest trade surpluses with the following countries.
- mainland China: US$29 billion (country-specific trade surplus in 2022)
- Netherlands: $9.2 billion
- Singapore: $7.3 billion
- Spain: $6 billion
- Chile: $4.5 billion
- Iran: $4.2 billion
- Portugal: $3.3 billion
- Colombia: $2.7 billion
- Malaysia: $2.32 billion
- Argentina: $2.25 billion
Among Brazil’s trading partners that generate the greatest positive trade balances, Brazilian surpluses with Spain (up 183%), Iran (up 121.7%) and Colombia (up 101.9%) grew at the fastest pace from 2021 to 2022.
In addition, Brazil went from a -$70.4 million deficit trading with Argentina to posting the billion-dollar plus surplus listed above.
These positive cashflow streams clearly indicate Brazil’s competitive advantages with the above countries, but also represent key opportunities for Brazil to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Brazilian Trading Partners
Twenty-five Brazilian corporations rank among Forbes Global 2000. Below is a sample of the major Brazilian companies that Forbes included:
- Braskem (specialized chemicals)
- BRF-Brasil Foods (food processing)
- Cosan (food processing)
- CSN (iron, steel)
- Embraer (aerospace)
- Itaúsa (industrials conglomerate)
- JBS (food processing)
- Metalurgica Gerdau (iron, steel)
- Petrobras (oil, gas)
- Vale (iron, steel)
- WEG (electrical equipment)
According to IMPORTERS.com listings for Brazilian suppliers, the following are examples of companies that ship products from Brazil to its trading partners around the globe. Shown within parenthesis are products that the Brazilian business provides.
- Alfa International (manganese ore)
- Almeida Junior Com Intl Ltda (pig iron)
- CSS Exports & Imports (beer)
- Dwd Export Ltda (slippers, flip-flops)
- Eric Phones Store (mobile phones)
- Industrias Colin SA (polyester, cotton, fiberglass)
- JS Electronics (computers, digital cameras)
- Kalam Diamond (raw diamonds)
- Kesco Ltda (rice, chicken, beef)
- MMS 2000 Import & Export Ltda (cane sugar, soyabeans)
See also Brazil’s Top 10 Major Export Companies, Brazil’s Top 10 Imports, Brazil’s Top 10 Exports and Top Brazilian Trade Balances
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 8, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 8, 2023
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on April 8, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 8, 2023
International Trade Centre, Trade Map. Accessed on April 8, 2023
Investopedia, Net Exports Definition. Accessed on April 8, 2023
Wikipedia, Brazil. Accessed on April 8, 2023
Wikipedia, Gross domestic product. Accessed on April 8, 2023
Wikipedia, List of Companies of Brazil. Accessed on April 8, 2023
Wikipedia, Purchasing power parity. Accessed on April 8, 2023
