Brazil-US trade records | US Major Imports-Exports with Brazil

Brazil is the eighth-largest economy in the world, and its second-biggest trading partner is the United States. The US and Brazil have a rich history of trade activities between them with their top imports and exports playing a huge role in the economic growth of both countries. 

• According to the latest US-Brazil trade data, The total trade between the US and Brazil accounted for $85.79 billion in 2023. 

• In 2023, the total US exports were made up of 2.3% of exports to Brazil and 1.2% of imports from Brazil. 

• According to the US shipment data, the US imports from Brazil totaled $40.99 billion in 2023, while US exports to Brazil accounted for $44.80 billion based on US trade data and US-Brazil trade records. 

• The trade relationship between Brazil and the United States or the US-Brazil bilateral trade has been marked by significant growth and mutual benefit. 

As two of the largest economies in the Americas, these countries have a long history of trade cooperation that has resulted in a wide range of imports and exports. Let's take a closer look at the trade records between Brazil and the US, focusing on the major imports and exports between the two nations along with the US-Brazil trade statistics for 2023-24.

US-BRAZIL TRADE RELATIONS & Trade Agreements  

The US and Brazil maintain deep and extensive political and economic links. One of the first nations to recognize Brazil was the United States in 1824, a year after Brazil gained its independence in 1822. The U.S.-Brazil trade partnership is based on a shared commitment to sustainable economic development and prosperity; promoting international peace, security, and dedication to human rights; protecting the environment and biodiversity; upholding labor standards and workers' rights; deploying clean energy; and fostering strong defense, health, and security cooperation. The US and Brazil are part of major trade agreements such as the Agreement on Trade and Economic Cooperation (ATEC).

Top US Imports from Brazil | US Import Data for Imports from Brazil

Mineral fuels and oils are the most imported commodity by the US from Brazil in 2023, worth $8.31 billion followed by iron and steel and nuclear machinery. The top 10 imports by the US from Brazil in 2023 according to US Shipment data and US-Brazil trade activities include:

1. Mineral Fuels and Oils (HS code 27): $8.31 billion

2. Iron and Steel (HS code 72): $4.56 billion

3. Nuclear reactors and machinery (HS code 84): $3.14 billion

4. Aircraft, spacecraft, and parts thereof (HS code 88): $1.74 billion

5. Wood and articles of wood (HS code 44): $1.63 billion

6. Pulp of wood (HS code 47): $1.58 billion

7. Coffee, tea, and spices (HS code 09): $1.44 billion

8. Electrical machinery and equipment (HS code 85): $1.30 billion

9. Vehicles (HS code 87): $1.28 billion

10. Preparations of vegetables, fruits, nuts, or parts of plants (HS code 20): $971.85 million

Top US Exports to Brazil | US Export Data for Export Trade with Brazil

Mineral fuels and oils are the biggest US exports to Brazil in 2023 amounting to $8.56 billion followed by aircraft, spacecraft, and nuclear machinery. The top 10 goods exported by the US to Brazil according to the US trade data and US-Brazil trade statistics for 2023 include:

1. Mineral fuels and oils (HS code 27): $8.56 billion

2. Aircraft, spacecraft, and parts thereof (HS code 88): $7.24 billion

3. Nuclear reactors and machinery (HS code 84): $5.55 billion

4. Electrical machinery and equipment (HS code 85): $4.22 billion

5. Plastics and articles thereof (HS code 39): $2.62 billion

6. Organic Chemicals (HS code 29): $2.07 billion

7. Optical, medical, or surgical instruments (HS code 90): $1.91 billion

8. Pharmaceutical products (HS code 30): $1.80 billion

9. Vehicles (HS code 87): $1.71 billion

10. Miscellaneous chemical products (HS code 38): $1.64 billion

US-Brazil Trade Records for Import-Export in the last 10 years

Top US Importers Sourcing Goods from Brazil

Top US Exporters Making Export Shipments to Brazil

US Foreign Direct Investment Surges in Brazil's Key Sectors | US-Brazil Bilateral Trade

In Brazil, the United States continues to be the primary provider of foreign direct investment (FDI). U.S. foreign direct investment (FDI) increased by $38 billion (20 percent) to $228.8 billion in 2023, mostly due to higher investments in manufacturing (+$6.2 billion), real estate projects (+$5.5 billion), and information and telecommunications (+$16.8 billion). Nearly all of the major sectors of the Brazilian economy saw an increase in U.S. foreign direct investment (FDI), with the majority going into higher value-added categories like financial services ($59.7 billion, or 26% of total U.S. FDI in 2023), manufacturing ($55.1 billion, or 24%), telecommunications ($35.7 billion, or 16% of total FDI in 2023), automotive sales and maintenance ($22.2 billion, or 10%), and real estate ($8.4 billion, or 4%).

Frequently Asked Questions on US-Brazil Bilateral Trade Activities

1. How much beef does the USA import from Brazil?

The USA imported approximately 230,000 metric tons of beef from Brazil in 2023, valued at $1.5 billion.

2. What are the top 10 Brazil food commodities exported to the USA?

The top 10 Brazilian food exports to the USA in 2023 with a combined value of $7.8 billion, according to US import data include: soybeans

• Coffee

• Beef

• Sugar

• Ethanol

• Miscellaneous Edible Preparations

• Poultry

• Edible fruit and nuts

• Cocoa

• Fish and seafood

3. How much sugar does Brazil export to the USA?

Brazil exported around 1.3 million metric tons of sugar to the USA in 2023, worth $550 million.

4. How much ethanol does the US export to Brazil?

The US exported about 450 million liters of ethanol to Brazil in 2023, valued at $230 million.

5. What are Brazil's top exporting companies to the US?

Brazil's top exporting companies to the US include Vale, Petrobras, JBS, Gerdau, and Embraer, with combined export values of over $12 billion.

6. How much is the value of Brazil's steel exports to the US?

Brazil's steel exports to the US in 2023 were valued at approximately $2.3 billion.

Conclusion

The trade relationship between Brazil and the United States is a vital component of both countries' economies. With a diverse range of imports and exports, these nations have established a strong trade partnership that benefits both sides. By analyzing the trade records between Brazil and the US, we can understand the significance of this relationship and the mutual advantages it offers. As both countries continue to collaborate and expand their trade ties, the future looks bright for their economic cooperation.

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