Brazil and US Bilateral Trade Crossed USD 47 Billion in 2016

14 November 2017
Brazil Exports to USA

United States is one of the largest trading partners of Brazil while Brazil is currently USA’s 14th 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.



HS Codes

Products

Value (USD Million)

HS Code 84

Machinery

3688

HS Code 88

Aircraft & Spacecraft

3161

HS Code 72

Iron & Steel

2220

HS Code 27

Mineral Fuels

1443

HS Code 09

Coffee, Tea & Spices

1014

*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.



HS Codes

Products

Value (USD Million)

HS Code 84

Machinery

5227

HS Code 27

Mineral Fuels

4357

HS Code 90

Optical, Photographic

1565

HS Code 39

Plastic

1536

HS Code 29

Organic chemicals

1443

*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.


Date

30 December 2016

Brazilian Exporter Name

Gelnex Industria E Comercio LTDA

Foreign Importer Name

In3gredients Inc

HS Code

35030019

Product Description

Gelatina Comestivel

Weight (KGS)

38102.16

FOB (USD)

209561.88

Destination Country

United States

Loading Place

ALF - Porto De Itajaí

Shipping Method

By Sea


Having any query about import export data of any country? Not to worry, just fill up a quick enquiry form on our website i.e. www.exportgenius.in or drop us a query at info@exportgenius.in and you can also reach us via phone i.e. +91-11-47048012

Is this article helpful. Share with others!   

Add Comments


Request a Demo close modal

Get global trade data online at your fingertips!

Copyright © 2021 Export Genius. All rights reserved