Brazil’s exports to the world grew to US$201.9 billion in 2010, up 32% from the depths of the global recession in 2009.
Brazilian imports increased at an even faster rate of 42.3% to $181.6 billion. Ironically, Brazil’s 2009 trade surplus of $25.3 billion was actually 20% higher than in 2010 due to higher cash outflows to pay for more foreign goods.
Below are Brazil’s top trade partners during 2010, for both exports and imports.
Top 10 Trade Partners for Brazilian Exports
The following top trade partners bought 54.7% of Brazil’s total exports in 2010.
- China … US$30.8 billion (15.2% of total Brazilian exports)
- United States … $19.5 billion (9.6%)
- Argentina … $18.5 billion (9.2%)
- Netherlands … $10.2 billion (5.1%)
- Germany … $8.1 billion (4%)
- Japan … $7.1 billion (3.5%)
- United Kingdom … $4.6 billion (2.3%)
- Russia … $4.2 billion (2.1%)
- South Korea … $3.8 billion (1.9%)
- Mexico … $3.7 billion (1.8%).
During global downturns like that in 2009, one can reasonably expect Brazilian cash inflows for export sales to diminish, with little that South America’s largest nation can do to staunch the financial bleeding.
Top 10 Trade Partners Supplying Imports to Brazil
Importers from the countries below accounted for 61% of the imports the Brazil consumed during 2010.
- United States … US$27.3 billion (15% of total Brazilian exports)
- China … $25.6 billion (14.1%)
- Argentina … $14.4 billion (7.9%)
- Germany … $12.6 billion (6.9%)
- South Korea … $3.8 billion (4.6%)
- Japan … $7 billion (3.8%)
- France … $4.8 billion (2.6%)
- India … $4.2 billion (2.3%)
- Mexico … $3.9 billion (2.1%)
- Canada … $2.7 billion (1.5%).
China may lead the United States in consuming Brazilian imports, yet America has a $1.7-billion edge over the People’s Republic in supplying exported products to Brazil.
Winners from Brazilian Trade in 2010
Brazil’s strongest trade surplus was with China, an impressive $5.2 billion achievement.
The second-highest Brazilian trade surplus was $4.1 billion with Argentina.
The United States generated a $7.8 billion trade surplus at Brazil’s expense. It appears that the lower American dollar paid dividends in 2010, driving up Brazilian demand for comparatively lower-priced U.S. goods.
Sources:
- Central Intelligence Agency World Factbook (accessed May 20, 2011).
- United Nations’ Comtrade Database (accessed May 20, 2011).
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
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