Brazil
National flag | |
Map |
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Basic Information |
Located in southeastern part of South America, Brazil is the country with the largest area and the largest population in Latin America; it has a land area of more than 8.5 million square kilometres and a population of more than 200 million. The capital is Brasilia, which is the political centre of Brazil. Sao Paulo is the largest city and the national centre for industry, commerce, finance and transportation |
Investment Environment |
Brazil has a sound legal system. It has also huge market capacity, large amount of resources and great influence in the global market, and enormous potential in economic development. In recent years, the government launched a series of reform measures to boost the economy to reduce the operating costs of enterprises and further open the market. According to estimates by the United Nations Conference on Trade and Development, Brazil’s foreign direct investment increased by 26% year-on-year to US$ 75 billion in 2019, making it the fourth-largest economy in the world Doing Business 2020 – the World Bank’s report on business environment – points out that Brazil’s score has improved in terms of starting business and property registration. The service industry is the most productive sector in Brazil, accounting for more than 73.2% of GDP. Brazil’s tourism industry is also competitive in the world. In addition, Brazil is a major exporter of agricultural products, mainly exporting soybeans, corn, sugar, coffee and tobacco. Its industrial strength also ranks first in Latin America. Other sectors of the country including nuclear power, communications, electronics, aircraft manufacturing are playing advanced role in the world. |
Trade Overview |
Brazil’s main export destinations include China, the United States, the Netherlands, and Argentina. The main exports are soybeans, oil, and iron ore. Its main import origins include China, the United States, Argentina, Germany, and the main imported goods include oil, ships, and auto parts. Since 2009, China has been the largest trading partner of Brazil for ten consecutive years. At the same time, Brazil is China’s largest trading partner in Latin America and the BRICS countries. The main categories of China’s exports to Brazil include ship machinery and electronic equipment, and imports from Brazil mainly include soybeans, oil, and iron ore. |
Economic Indicators
2017(a) |
2018(a) |
2019(a) |
2020(b) |
|
Surface area (sq. km) |
8,547,400 |
8,547,400 |
8,547,400 |
8,547,400 |
Population (million) |
206.8 |
208.5 |
210.1 |
211.8 |
GDP (US$ billion) |
2,062.4 |
1,885.1 |
1,839.5 |
1,537.7 |
Real GDP growth rate (%) |
1.3 |
1.3 |
1.1 |
-5.5 |
Total exports (US$ million) |
218,069 |
239,537 |
225,821 |
202,442 |
Total imports (US$ million) |
-154,109 |
-186,490 |
-185,039 |
-168,369 |
Consumer Price Index (%) |
2.9 |
3.7 |
4.3 |
3.1 |
Current account balance (US$ million) |
-15,015 |
-41,540 |
-49,452 |
-35,542 |
Exchange rate (Brazilian Real BRL : USD) |
3.31 |
3.87 |
4.03 |
4.47 |
Remarks: (a) actual value; (b) estimated value of Economist Intelligence Unit (EIU); (c) estimates of Economist Intelligence Unit (EIU).
Source: Country Report May 2020 (Brazil) by British Economist Intelligence Unit
Main export and import destinations
Main export destinations (2018) |
Proportion in total exports (%) |
China |
28.1 |
USA |
13.3 |
The Netherlands |
4.5 |
Argentina |
4.3 |
Others |
49.8 |
Main Source of import (2018) |
Proportion in total imports (%) |
China |
19.9 |
USA |
17.1 |
Argentina |
6.0 |
Germany |
5.8 |
Others |
51.2 |
Source: International Trade Center (ITC)
Major import and export goods
Major exports (2018) |
Proportion in total exports (%) |
Fossil fuels, mineral oil and distilled products thereof; bituminous substances; mineral wax |
13.4 |
Oil seeds and oil-containing fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and grass root feed |
11.8 |
Ore, slag and ash |
11.3 |
Meat and edible offal |
6.8 |
Others |
56.7 |
Major imports (2018) |
Proportion in imports (%) |
Fossil fuels, mineral oil and distilled products thereof; bituminous substances; mineral wax |
13.5 |
Electrical machinery and equipment and their parts; recorders and speakers, television image and sound recorders and replayers, parts and accessories of such products |
12.5 |
Nuclear reactors, boilers, machinery and mechanical appliances and relevant spare parts |
12.0 |
Vehicles other than railway or tramway vehicles and their parts and accessories |
6.9 |
Others |
55.1 |
Source: International Trade Center (ITC)
Statistics on the trade between Mainland China and Brazil (US$ 10,000)
Year |
Total trade |
Total exports* |
Total imports** |
2019 |
11,534,169.8 |
3,554,389.9 |
7,979,779.9 |
2018 |
11,118,082.6 |
3,366,877.7 |
7,751,204.9 |
2017 |
8,754,239.9 |
2,895,713.9 |
5,858,526 |
2016 |
6,771,290.2 |
2,197,523.9 |
4,573,766.3 |
2015 |
7,158,350.2 |
2,741,663.5 |
4,416,686.7 |
Remarks: * Value of goods exported to Brazil from Mainland China; **Value of goods imported from Brazil to Mainland China
Source of Data: General Administration of Customs of the People’s Republic of China
Statistics of trade between Macao and Brazil (US$) (USD 1» MOP 8)
Year |
Total trade |
Total exports* |
Total imports** |
2019 |
64,875,027 |
64,943 |
64,810,084 |
2018 |
57,363,870 |
5,042 |
57,358,828 |
2017 |
47,624,376 |
12,408 |
47,611,968 |
2016 |
48,761,796 |
12,713 |
48,749,082 |
2015 |
40,439,654 |
1,980 |
40,437,674 |
Remarks: * Value of goods exported to Brazil from Macao; **Value of goods imported from Brazil to Macao.
Source of Data: Statistics and Census Service (DSEC), Macao SAR Government
Sources:
- Country (region) guide for foreign investment cooperation (Brazil) by the Ministry of Commerce of the People’s Republic of China
- General Administration of Customs of the People’s Republic of China
- Ministry of Development, Industry and Foreign Trade, Brazil
- SinoMaps Press
- Statistics and Census Service (DSEC), Macao SAR Government
- International Trade Center (ITC)
- Country Report May 2020 (Brazil) by the British Economist Intelligence Unit
- Doing Business 2020 by the World Bank
Updated in May 2020.