Brazil now ranks 6th in the world in terms of GDP according to the CIA, one ahead of the U.K., with a GDP of 2.5 trillion. In 2011, Brazilian foreign trade registered a trade flow record U.S. $ 482.3 billion, an increase of 25.7% over 2010, reaching U.S. $ 383.7 billion.
Exports ended the period with a value of U.S. $ 256.0 billion and imports of $ 226.2 billion, also record results. For 2010, exports grew by 26.8% and imports 24.5%. These significant increases indicate the strength of the progressive inclusion of Brazil in international trade. The trade surplus reached U.S. $ 29.8 billion in 2011, a 47.9% increase over the previous year’s surplus of $ 20.1 billion, driven by a greater increase in exports over imports.
For export markets, sales to Asia increased 36.3%, making the region the top buyers for Brazilian products in 2011, surpassing Latin America and the Caribbean and the European Union, which also reported significant increases of respectively 19.1% and 22.7% .
Since 2009, China has been the largest importer of Brazilian products, replacing the United States. This gap increased in 2011, as exports to China increased by over 44% (to US$ 44.3 billion) during that period (comprising 17.3% of Brazil’s total exports). Meanwhile exports to the United States increased by nearly 34% (totalling US$ 25.8 billion), comprising 10.1% of Brazil’s total exports. The remaining countries rounding up the top five export markets in 2011 were Argentina, Holland and Japan, comprising 8.9%, 5.3% and 3.7% of Brazil’s total exports, respectively.
In comparison with 2010, sales of commodities grew 36.1%, and semi-manufactured and manufactured goods widened by respectively 27.7% and 16.0%. The group of manufactured products accounted for half of the total exported by Brazil in 2011. At the top of the list are natural resources (like iron ore)) and petroleum products (together nearly 30% of Brazil’s exports). Transport exports comes in third at nearly 10% of all exports, fllowed by agricultural products (like soy beans, coffee and sugar).
Meanwhile, in regards to imports, in 2011, both the United States and China again are the top two countries that export to Brazil. The United States is the top country (comprising 15.0% of Brazil’s imports) and China came in a close second place (comprising 14.9%). Rounding up the top five countries are Argentina, Germany and South Korea, comprising 7.5 %, 6.7% and 4.5% of Brazil’s total imports, respectively.
On the import side, purchases of raw materials and intermediate goods accounted for 45.1% of total exports, and capital goods, 21.2%. Imports of consumer goods accounted for 17.7% and fuels and lubricants, 16.0%. Also, the category of fuels and lubricants recorded higher growth of 42.8%, followed by consumer goods (+27.5%), raw materials and intermediate goods (+21.6%) and goods capital (+16.8%).
A Brazilian-based online directory to find Brazilian companies for business-to-business trade is B2Brazil.com. The service is free to use in order to access, learn about and directly contact Brazilian companies in all industries. Users do not have to register to use the site, just browse, search and contact. B2Brazil.com is the source for trade with Brazil for importers and exporters alike.
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