Rapid Hike in the Trade Rate of Brazil in 2023

The Federal Republic of Brazil occupying a land area of 8.5 million square kilometers and a total population of 11 million records itself as the 5th largest country in the world both in terms of land area and population. The country mostly popular for its diverse landscapes, lush greeneries like the Amazon rainforest and a beautiful picturesque scenario is heavily dependent on the import and export trade market for its growing economy. The growing population of the nation and the increasing domestic necessities of the industrial sectors have indulged the import trade by a rate of 5.8% from the previous year i.e. 167 billion US dollars in 2023 than that of 154 billion US dollars in 2022.



Apart from the Import market, the Brazil Customs Data says the export trade market of the nation also plays a significant role in the country's growing economy with an annual revenue share of 45%. The export trade rate of 2023 has achieved a staggering rate of 253 billion US dollars a significant increase of 7% from the previous year 2022 worth 247 billion US dollars. Import Globals key resources of Brazil Trade Data shows the insight strategies of the country's growing trade to give a proper idea to the top business holders worldwide for helping them in establishing their business worldwide.

TOP ACQUIREMENT / DOMESTIC IMPORTS OF BRAZIL IN 2023

The higher wage growth of the nation leading to increasing consumer rates and growing industrial engagement in the export market has boosted the import trade rate. As per the Brazil Import Data, the top acquirements of the nation in 2023 are discussed below,

• Mineral fuels and oils (HS code - 27) – Import trade cost rate of Mineral fuels and oils 2023 – 37.9 billion US dollars.

IMPORT VARIATIONS

A. Crude Oil

B. Refined Petroleum Products

C. Coal

D. Natural Gas

E. Methanol

• Electrical machinery and equipment (HS code - 85) – Import trade cost rate of Electrical machinery and equipment 2023 – 24 billion US dollars.

IMPORT VARIATIONS

A. Electric Fans

B. Generators

C. Electrostatic Machines

D. Homopolar machines

E. Reluctance Machines

• Machinery including computers (HS code - 84) – Import trade cost rate of Machinery including computers 2023 – 23 billion US dollars.

IMPORT VARIATIONS

A. Mainframe Computers

B. Personal Computers

C. Laser Cutting Machines

D. Smartphone’s

E. Microcontrollers

• Vehicles (HS code - 87) – Import trade cost rate of Vehicles 2023 – 13 billion US dollars.

IMPORT VARIATIONS

A. Trucks

B. SUV’s

C. Passenger Cars

D. Tractors

E. Electric Vehicles

• Pharmacy products (HS code - 30) – Import trade cost rate of Pharmacy products 2023 – 9 billion US dollars.

IMPORT VARIATIONS

A. Contraceptives

B. Generic drugs

C. Chronic disease medications

D. Vaccines

E. Biologics

IMPORT TRADE STATISTICS OF BRAZIL FOR THE LAST 10 YEARS 

1. Import trade value of Brazil in 2013 - 130 billion US dollars 

2. Import trade value of Brazil in 2014 - 132 billion US dollars 

3. Import trade value of Brazil in 2015 - 128 billion US dollars 

4. Import trade value of Brazil in 2016 - 137 billion US dollars 

5. Import trade value of Brazil in 2017 - 140 billion US dollars 

6. Import trade value of Brazil in 2018 - 142 billion US dollars 

7. Import trade value of Brazil in 2019 - 147 billion US dollars 

8. Import trade value of Brazil in 2020 - 150 billion US dollars 

9. Import trade value of Brazil in 2021 - 154 billion US dollars 

10. Import trade value of Brazil in 2022 - 158 billion US dollars

TOP PRODUCTIONS / EXPORTS OF BRAZIL IN 2023

The availability of different essential natural resources and the efficient productivity rate of the industrial sectors will increase the export trade rate of the nation in 2023. As per the Brazil Export Data, the top exports of the nation are discussed below, 

• Soybeans (HS code - 12) – Export trade cost rate of Soybeans 2023 – 33 billion US dollars.

EXPORT VARIATIONS

A. Soybean Hulls

B. Organic Soybeans

C. Soybean Oil

D. Soybean Meal

E. Whole Soybeans

• Iron Ores (HS code - 26) – Export trade cost rate of Iron ores 2023 – 25 billion US dollars.

EXPORT VARIATIONS

A. Hematite

B. Magnetite

C. Sinter Feed

D. Pellet Feed

E. Lump Ore

• Crude Petroleum (HS code - 27) – Export trade cost rate of Crude Petroleum 2023 – 21 billion US dollars.

EXPORT VARIATIONS

A. Medium Crude Oil

B. Heavy Crude Oil

C. Light Crude Oil

D. Pre-Salt Crude Oil

E. Sweet Crude Oil

• Corn (HS code - 11) – Export trade cost rate of Corn 2023 – 7 billion US dollars.

EXPORT VARIATIONS

A. Yellow Corn

B. White Corn

C. High Moisture Corn

D. Organic Corn

E. Non-GMO Corn

• Poultry meat (HS code - 02) – Export trade cost rate of Poultry meat 2023 – 6 billion US dollars.

EXPORT VARIATIONS

A. Processed Chicken Meat

B. Frozen Chicken Paws

C. Frozen Chicken Nuts

D. Frozen Whole Chicken

E. Chilled Chicken

EXPORT TRADE STATISTICS OF BRAZIL FOR THE LAST 10 YEARS 

1. Export trade value of Brazil in 2013 - 220 billion US dollars 

2. Export trade value of Brazil in 2014 - 198 billion US dollars 

3. Export trade value of Brazil in 2015 - 210 billion US dollars 

4. Export trade value of Brazil in 2016 - 215 billion US dollars 

5. Export trade value of Brazil in 2017 - 228 billion US dollars 

6. Export trade value of Brazil in 2018 - 232 billion US dollars 

7. Export trade value of Brazil in 2019 - 224 billion US dollars 

8. Export trade value of Brazil in 2020 - 240 billion US dollars 

9. Export trade value of Brazil in 2021 - 245 billion US dollars 

10. Export trade value of Brazil in 2022- 250 billion US dollars

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