Brazil

National flag

Map

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 9^th 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.

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)

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

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

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

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

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