Brazil

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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.

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

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

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

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

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