Overview of Brazil Trade

 

Brazil right now is one of the top globally growing economies with a vast labor workforce continuously working for an impactful increase in its production rates. The country is rich in natural resources ranging from coal, petroleum, oil, and many other mineral fuels which boost the annual trade share of the mineral exports in the economic revenue. Brazil in South America occupies a land area of 8.5 million square miles and holds a population of 210 million which records the name of the country as the 11th most populous and the seventh largest nation in the world in terms of land area and population.

The nation was founded in the early 1500s by migrants named Pedro Alvares Cabral and other tribal nations. The different initiatives taken by the government authorities to promote the global trade rank of the nation include tariff reduction and better infrastructure along with proper management of consumer consumption. The attributing factors altogether have led to a GDP of 1.7 trillion US dollars in 2023 a significant growth of 6% from the previous year’s value with an import and export trade value of 246 billion US dollars and 192 billion US dollars says the Brazil Import Data.

Valuation of Traded Commodities

The valuation of the import and export traded commodities plays a significant role in trade growth because the majority of the economic revenue share goes from the import and export commodities. As per the Brazil Customs Data, the valuation of the import and export commodities of the nation in 2023 are discussed below,

Valuation of Exports

• Soybeans (HS code - 12) – Valuation of Soybeans exports from Brazil in 2023 – 33 billion US dollars

• Iron ores (HS code - 26) – Valuation of Iron ores exports from Brazil in 2023 – 25 billion US dollars

• Crude Petroleum (HS code - 27) – Valuation of Crude Petroleum exports from Brazil in 2023 – 21 billion US dollars

• Corn (HS code - 11) – Valuation of Corn exports from Brazil in 2023 – 7 billion US dollars

• Poultry meat (HS code - 02) – Valuation of Poultry meat exports from Brazil in 2023 – 6 billion US dollars

• Coffee (HS code - 09) – Valuation of Coffee exports from Brazil in 2023 – 5 billion US dollars

• Gold (HS code - 71) – Valuation of Gold exports from Brazil in 2023 – 4 billion US dollars

• Beef (HS code - 02) – Valuation of Beef exports from Brazil in 2023 – 3 billion US dollars

• Soya bean oil (HS code - 15) – Valuation of Soya bean oil exports from Brazil in 2023 – 2 billion US dollars

• Sugar (HS code - 17) – Valuation of Sugar exports from Brazil in 2023 – 2 billion US dollars

Valuation of Imports

• Mineral fuels and oils (HS code - 27) – Valuation of Mineral fuels and oils imports in Brazil 2023 – 37.9 billion US dollars

• Electrical machinery and equipment (HS code - 85) – Valuation of Electrical machinery and equipment imports in Brazil 2023 – 24 billion US dollars

• Machinery including computers (HS code - 84) – Valuation of Machinery including computers imports in Brazil 2023 – 23 billion US dollars

• Vehicles (HS code - 87) – Valuation of Vehicles imports in Brazil 2023 – 13 billion US dollars

• Pharmacy products (HS code - 30) – Valuation of Pharmacy products imports in Brazil 2023 – 9 billion US dollars

• Organic chemicals (HS code - 29) – Valuation of Organic chemicals imports in Brazil 2023 – 8 billion US dollars

• Plastics (HS code - 95) – Valuation of Plastics imports in Brazil 2023 – 7 billion US dollars

• Vehicles parts and accessories (HS code - 87) – Valuation of Vehicles parts and accessories imports in Brazil 2023 – 6 billion US dollars

• Iron and steel (HS code - 72) – Valuation of Iron and steel imports in Brazil 2023 – 5 billion US dollars

• Optical and medical instruments (HS code - 90) – Valuation of Optical and medical instruments imports in Brazil 2023 – 4 billion US dollars

Top Trade Partners of Brazil 2023

The global expansion of the Brazilian Trade across different traders around the globe has led to a huge increment in the economic growth of the nation. According to the Brazil Trade Data, the top 10 trade partners of the nation in 2023 with its trade values are discussed below,

• China – Valuation of trades within China and Brazil – 100 billion US dollars

• United States – Valuation of trades within the United States and Brazil – 80 billion US dollars

• Argentina – Valuation of trades within Argentina and Brazil – 70 billion US dollars

• Netherlands – Valuation of trades within Netherlands and Brazil – 60 billion US dollars

• Germany – Valuation of trades within Germany and Brazil – 50 billion US dollars

• Japan – Valuation of trades within Japan and Brazil – 40 billion US dollars

• Chile – Valuation of trades within Chile and Brazil – 35 billion US dollars

• South Korea – Valuation of trades within South Korea and Brazil – 20 billion US dollars

• India – Valuation of trades within India and Brazil – 15 billion US dollars

• Italy – Valuation of trades within Italy and Brazil – 10 billion US dollars

Top Trading Companies of Brazil 2023

As per the Brazil Export Data, the top trading companies of the nation with its global export values are discussed below,

• Petrobras – The valuation of Petrobras exports in 2023 – 55 billion US dollars

• Vale – The valuation of Vale exports in 2023 – 35 billion US dollars

• JBS S.A – The valuation of JBS S.A  exports in 2023 – 30 billion US dollars

• Braskem – The valuation of Braskem  exports in 2023 – 25 billion US dollars

• Embraer – The valuation of Embraer exports in 2023 – 20 billion US dollars

• Odebrecht Engineering & Construction – The valuation of Odebrecht Engineering & Construction exports in 2023 – 15 billion US dollars

• BRF S.A – The valuation of BRF S.A exports in 2023 – 10 billion US dollars

• Gerdau – The valuation of Gerdau exports in 2023 – 9 billion US dollars

• Cargill Brasil – The valuation of Cargill Brazil exports in 2023 – 7 billion US dollars

• Natura Cosmetics – The valuation of Natura Cosmetics  exports  in 2023 – 6 billion US dollars

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