Brazil
National flag |
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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 8.547 million square kilometres and a population of more than 210 million in 2021. 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 Situation |
Brazil ranks the 9th largest economy in the world and has a sound legal system. It has also huge market capacity, large amount of resources and great influence in the global market. In recent years, the government has encouraged foreign investment to Brazil’s traditional advantageous industries and innovative industries, namely agriculture, automobiles, renewable energy, life sciences, oil and gas, and digital technology; according to investment scale and other indicators of different projects, it has granted targeted policy support and fee reductions. The service industry is the most productive sector in Brazil, accounting for more than 70% 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, cane 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. According to the “2022 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), at the end of 2021, Brazil has attracted US$592.8 billion on stock of inward direct investment. According to the “2021 Statistical Bulletin of China’s Outward Foreign Direct Investment”, by the end of 2021, the stock of direct investment of China in Brazil was US$3.0 billion, mainly in the fields of agriculture, energy, power, manufacturing and technology innovation. |
Trade on Goods |
In 2021, Brazil’s main export destinations include China, the United States, Argentina and the Netherlands. The main exports are soybeans, oil, iron ore and meat. Its main sources of import include China, the United States, Argentina and Germany, and the main imported goods include machinery, minerals and organic chemicals. 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. In 2022, China’s exports to Brazil amounted to US$62.0 billion, main exports to Brazil include solar battery, herbicides, low value simple customs clearance goods; imports from Brazil amounted to US$109.5 billion, mainly include soybeans, iron ore and concentrates, crude oil. |
Economic Indicators
2020(a) |
2021(a) |
2022(b) |
2023(b) |
|
Population (million) |
211.8 |
212.6 |
214.0 |
215.2 |
GDP (US$ billion) |
1,448.6 |
1,608.1 |
1,894.7 |
2,059.4 |
Real GDP Growth Rate (%) |
-3.9 |
4.6 |
2.8 |
1.0 |
Total Export of Goods (US$ billion) |
211.3 |
281.6 |
290.5 |
302.5 |
Total Import of Goods (US$ billion) |
168.5 |
232.7 |
214.8 |
210.0 |
Total Export of Services (US$ billion) |
27.5 |
31.5 |
– |
– |
Total Import of Services (US$ billion) |
52.2 |
58.4 |
– |
– |
Consumer Price Index (%) |
3.2 |
8.3 |
9.3 |
4.7 |
Current Account Balance (US$ billion) |
-24.5 |
-27.9 |
-27.4 |
-32.1 |
Exchange Rate (Brazilian Real BRL: US$, Period Average) |
5.2 |
5.4 |
5.2(c) |
5.3(c) |
Remarks: (a) actual value; (b) estimated value of International Monetary Fund (IMF); (c) estimated value of Oxford Economics
Source: International Monetary Fund (IMF), Oxford Economics “Country Economic Forecast – Brazil (Feb 2023)”
Main Export and Import Place of Goods
Main Export Destinations (2021) |
Proportion of Total Exports of Goods (%) |
China |
31.4 |
United States |
11.2 |
Argentina |
4.3 |
The Netherlands |
3.3 |
Others |
49.8 |
Main Import Origins (2021) |
Proportion of Total Imports of Goods (%) |
China |
21.7 |
United States |
18.1 |
Argentina |
5.4 |
Germany |
5.2 |
Others |
49.6 |
Source: International Monetary Fund (IMF)
Major Imports and Exports of Goods
Major Exports of Goods (2021) |
Proportion of Total Exports of Goods (%) |
Ores, slag and ash |
17.4 |
Oil seeds and oleaginous fruits, miscellaneous grains, seeds and fruit; industrial or medicinal plants; straw and fodder |
13.9 |
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes |
13.7 |
Meat and edible Meat offal |
6.5 |
Others |
48.5 |
Major Imports of Goods (2021) |
Proportion of Imports of Goods (%) |
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes |
13.4 |
Nuclear reactors, boilers, machinery and mechanical |
13.4 |
Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles. |
12.6 |
Organic Chemicals |
6.9 |
Others |
53.7 |
Source: International Trade Center (ITC)
Major Imports and Exports of Services
Main Exports of Services (2021) |
Proportion of Total Exports of Services (%) |
Other business services |
35.5 |
Transport |
12.9 |
Telecommunications, computer, and information services |
10.9 |
Other |
40.7 |
Main Imports of Services (2021) |
Proportion of Total Imports of Services (%) |
Other business services |
46.8 |
Transport |
19.5 |
Telecommunications, computer, and information services |
9.8 |
Other |
23.9 |
Remarks:The above content is the estimated data of UNCTAD, WTO and ITC.
Source:International Trade Centre (ITC)
Statistics on the Trade of Goods between Mainland China and Brazil (US$ ten thousands)
Year |
Total Trade |
Total Exports value* |
Total Imports value** |
2022 |
17,149,201.4 |
6,196,997.1 |
10,952,204.3 |
2021 |
16,419,138.1 |
5,361,094.1 |
11,057,234.0 |
2020 |
11,904,032.1 |
3,495,652.5 |
8,408,379.6 |
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 |
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 on the Trade of Goods between the Macao SAR and Brazil (US$) (US$ 1» MOP 8)
Year |
Total Trade |
Total Exports Value* |
Total Imports Value** |
2022 |
97,156,236.3 |
88,478.8 |
97,067,757.5 |
2021 |
55,855,306.6 |
167,839.1 |
55,687,467.5 |
2020 |
54,421,509 |
192,956 |
54,228,553 |
2019 |
64,875,027 |
64,943 |
64,810,084 |
2018 |
57,363,870 |
5,042 |
57,358,828 |
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
- “2021 Statistical Bulletin of China’s Outward Foreign Direct Investment” by the Ministry of Commerce of the People’s Republic of China, National Bureau of Statistics and State Administration of Foreign Exchange
- 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 Monetary Fund (IMF)
- International Trade Center (ITC)
- “2022 World Investment Report” by the United Nations Conference on Trade and Development (UNCTAD)
- “Country Economic Forecast – Brazil (Feb 2023)” by Oxford Economics
Updated in March 2023.