Brazil’s main trade partners nowadays

Much is said about a country’s exports and imports, as well as its economic relationship with the world. However, do you know Brazil’s main trade partners? In this text, we will try to explain the main relationships that the country has inside and outside Latin America. Therefore, understand how one of the largest countries in the world relates to the countries of the globe. Check out!

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What are a country’s trading partners?

A country’s trading partners are those that maintain a type of trade agreement. That is, with which an exchange based on imports and exports is established. In other words, the commercial relationship is based on the purchase and sale of products between countries. Furthermore, in a commercial partnership, both sides need to benefit.

This means that for Brazil to benefit, it does need to have a counterpart for the commercial partner, whatever it may be.

Why are international trade partners important for Brazil?

For Brazil, international trade partners are important because it’s a way of paying the country’s bills, generating a considerable amount from exports. That is, the nation needs to maintain good trade relations. In this way, the country manages to develop its economy within its territory and internationally as well. In practice, this can result in economic improvement and positive impacts on the quality of life of the population in its various social sectors.

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Brazil’s main trade partners and Brazilian exports in 2022

Brazil has several partners around the world, as you can see in this article. However, it’s worth mentioning that in 2022 alone, Brazilian exports reached US$89.5 billion, according to the Quarterly Bulletin of the Brazilian trade balance. In addition, there was a growth of 16.1% compared to the same quarter of the previous year, 2021.

Brazil’s main trade partners and main Brazilian activities

Since Brazil stands out as one of the world’s great exporters, it’s worth mentioning the great Brazilian exports. Thus, in 2022, the manufacturing industry contributed 55.3%, the extractive industry with 22.7%, and agriculture with 21.5%.

But what are these industries?

• Transformation industry: these are production systems that transform one good into another, that is, raw material and good for the industry;
• Extractive Industry: extracts resources and their characteristics from nature, raw materials are found in nature itself;
• Agriculture: is a set of plant cultivation (agriculture) and animals (livestock) for human consumption or supply of raw materials.

List of Brazil’s main trade partners

Brazil’s main trade partners are currently:

• U.S;
• China;
• Chile;
• Argentina;
• Germany;
• Netherlands;
• Portugal;
• Middle East countries.

How is Brazil’s trade partnership with the United States?

In short, the United States is one of Brazil’s main trading partners, accounting for 14% of Brazilian exports. The main items that form part of this commercial partnership are aircraft, equipment for earthmoving and drilling, machinery, and manufactured products. Incidentally, Brazil sells crude oil, gasoline, and even iron and steel to the United States. While the United States trades in fertilizers, oils, and minerals.

To give you an idea, in 2022 alone, Brazilian imports to the United States amounted to 24.3%, while products from the United States to Brazil totaled 30.3%.

How is Brazil’s trade partnership with China?

China is the country that imports the most from Brazil, generating a volume greater than 46.2 billion dollars in imports in the period 2022. Furthermore, the main products that are traded are soybeans, petroleum-based oils, and iron ore.

Brazil sells mineral fuels, food products, and chemical products to China. China is responsible for selling soybeans, iron ore, and oil to Brazil.

How is the commercial partnership between Brazil and Chile?

At first, Chile was the 5th largest destination for Brazilian exports in 2021, moving almost 4 billion dollars.

Chile buys beef, oil, and vehicles from Brazil. While Brazil imports natural gas, vehicle accessories, and telecommunications equipment.

How is the commercial partnership between Brazil and Argentina?

The commercial partnership between Brazil and Argentina generated almost US$11 million in 2022 alone. Brazil imports fertilizers, petroleum fuel oils, and minerals from Argentina. While Argentina buys food products, raw materials, and chemicals.

How is the commercial partnership between Brazil and Germany?

Germany is among the 3 countries that most import from Brazil. The main products that Germany buys from Brazil are soybeans, coffee, and copper ore. Brazil, on the other hand, buys manure and fertilizers, petroleum and mineral fuel oils, as well as natural gas from Germany.

In this way, the economic partnership between the two countries totaled around 72.4 billion dollars in 2022.

How is the commercial partnership between Brazil and Portugal?

Portugal is another major economic partner of Brazil. Brazil contributes to the partnership largely with soy and fuel and Portugal with olive oil and aircraft components.

How is the commercial partnership between Brazil and the Netherlands?

The Netherlands is the 4th country that buys products from Brazil. In summary, the main items to be traded by both nations are iron ore, soy, iron, and steel.

Brazil exports food products, mineral fuels, and chemical products to the Netherlands. While buying medicines, pharmaceuticals, fertilizers, and fertilizers.

How is Brazil’s trade partnership with the Middle East?

Middle Eastern countries have the largest trade surplus for Brazil. In other words, they are among Brazil’s main trading partners, with Brazilian exports exceeding US$7 billion in 2022 alone. The biggest products to be traded by the countries are chicken meat, beef, sugar, and corn.

By the way, the Middle East exports poultry meat, iron ore, corn, and soy from Brazil. While Brazil buys crude petroleum oils, fertilizers, and fertilizers from the Middle East.

Brazil’s main trade partners with MERCOSUR countries

MERCOSUR, formed mainly by Brazil, Argentina, Paraguay, and Uruguay, is a significant economic bloc for Brazil’s trade relations. Brazil’s main commercial partners within MERCOSUR are Argentina, Uruguay, and Chile, which is a country associated with the bloc.

Brazil imports pharmaceutical products, meat, and clothing from MERCOSUR. Brazil, on the other hand, sells automobiles, petroleum derivatives, and chemical products.

Brazil’s main trade partners and the percentages in 2022

In this way, Brazil maintains different commercial relations with a large number of countries around the world. Thus, the main partners, as we have seen, are in South America, the European Union, the United States, China, and the Middle East.

In 2022 alone, products exported by Brazil grew by 19.1%, which generated around 61.8 billion dollars. A surplus (when exports are greater than imports) in the trade balance, surpassing the country’s trade growth in 2021.