Brazil and US Bilateral Trade Crossed USD 47 Billion in 2016

14 November 2017

United States is one of the largest trading partners of Brazil while Brazil is currently USA’s 14^th largest goods trading partner. As per Brazil US bilateral trade statistics, Brazil exports to USA recorded USD 23.29 billion while Brazil imports from USA recorded USD 24.09 billion during the year 2016. Brazil US bilateral trade stood at USD 47.38 billion and Brazil goods trade deficit with USA was USD 0.80 billion in 2016. Both countries share membership in many international organizations like United Nations, World Trade Organization, Group of 20 etc.

According to USA’s department of commerce, United States exports of goods and services to Brazil supported an estimated 308 thousand jobs in the year 2015. Let’s take a look at US Brazil trade statistics 2016 and their trade relations.

Trade Relations between USA and Brazil

Why is Brazil so important to the United States? Brazil is the largest economy in the Latin America and seventh largest in the world. US Brazil trade relationship is extensive and the country is a growing for US exports. United States trade with Brazil is heavily concentrated in goods, but services trade is on the rise. The main goods exports to Brazil include chemicals, petroleum, transportation equipment and machinery. While the leading services exports include travel/tourism related services and transportation services.

In 2011, US Brazil trade agreement has been signed to enhance cooperation on the trade and investment by providing a framework to make deeper cooperation including trade innovation and technical barriers to trade. Brazil US business council set a long term goal to realize this relationship’s full economic potential. By boosting two way trade and investment, both countries will benefit from massive incentives to realize strategic partnership.

US Brazil Bilateral Trade statistics – Brazil Exports to USA

Brazil goods exports to United States mainly are machinery, aircraft & spacecraft, iron & steel, mineral fuels and coffee & tea. Brazil exports to US worth of more than USD 23 billion during the year 2016. Brazil’s machinery (HS Code 84) is the most exported merchandise in the United States which recorded USD 3688 million. Brazil export of machinery is increased by 10% in value between 2012 and 2016. In machinery, the major commodity includes turbojets, turbo propellers and other gas turbines.

Brazil exports to USA of the product under HS code 88 which includes aircraft, spacecraft and parts thereof recorded USD 3161 million in 2016. It has seen a massive raise in the export of given commodity to the United States. It is increased by 33% in value from 2012 to 2016. However, the particular export products under HS code 88 are powered aircraft like helicopters and aeroplanes, spacecraft including satellites. Here is the table representing top Brazil exports to USA during 2016.

*Above stats are based on 2016 report

Brazil USA Bilateral Trade Statistics – Brazil Imports from USA

Brazil has reduced its imports from United States and it is declined by 9% between 2012 and 2016. Like exports, machinery is also the most imported product in Brazil from USA. It is due to Brazil’s re-import of turbojets, turbo propellers and other gas turbines. Brazil imports of machinery from USA stood at USD 5227 million during the year 2016.

Mineral fuel is the second largest imports of Brazil from USA and recorded USD 4357 million in 2016. The country majorly imports petroleum oil and petroleum gas from United States. However, Brazil import of mineral fuel is declined by 12% between 2012 and 2016.

According to US Brazil Trade Statistics, Brazil imports of Optical, photographic & cinematographic under HS code 90 recorded USD 1565 million in 2016. In this category, Brazil mainly imports instruments used in medical, surgical & dental and regulating instruments and orthopaedic appliances. Check the following table to get the list of top Brazil imports from United States.

*Above stats are based on 2016 report

Subscribe to Get Brazil USA Bilateral Trade Report

You can get the Brazil USA bilateral trade data which is based on actual shipment records. It will help you to find the list of importers and exporters in both countries. You will know the trade value recorded in a particular time period. Let’s go through the sample of Brazil exports to USA that will help you to get a fair idea about the data fields we cover in our report.

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