India-Brazil Bilateral Trade – Analysis of India’s Positive Trade with Brazil

16 November 2023

Brazil is one of the most important trading partners of India in the entire LAC (Latin America and Caribbean) region. India-Brazil bilateral trade has doubled in the last two years. India’s trade balance with Brazil totalled USD 2,608 million in 2022, a substantial increase from 2021’s USD 1,334 million. India’s top import commodity from Brazil in 2022 was crude soya-bean oil, while India’s top export product to Brazil was automotive diesel fuel. Brazil is among the top 10 countries that recorded a positive trade with India in 2022. Here is in-depth analysis of India-Brazil bilateral trade relations.

India-Brazil Trade Balance Doubled in 2021 and 2022

India’s exports to Brazil totalled USD 3,675 million in 2022 and that dollar amount shoot to USD 9,724, similarly, India’s imports from Brazil also increased from USD 3,194 million in 2020 to USD 7,116 million in 2022. The trade balance between India and Brazil was USD 2,608 million in 2022. Look at the chart given to visually understand India-Brazil bilateral trade.

India’s Top Imports from Brazil 2022

India’s top imports from Brazil in 2022 were crude soya-bean oil, crude petroleum oil, gold, and raw cane sugar. According to a report, the value of India’s top 10 imports from Brazil in 2022 together was USD 5,609 million. See the chart given and understand the values of every product India imported from Brazil last year.

India’s Top Exports to Brazil 2022

India’s top exports to Brazil in 2022 were automotive diesel fuel, insecticides, high flash high speed diesel fuel, aviation turbine fuel, and fungicides. According to a report, the value of India’s top 10 exports to Brazil 2022 together was USD 5,886 million. Check the values of every product India exported to Brazil in 2022 through the chart given.

India’s Positive Trade Balance with Countries – Brazil on 9^th Position

Although India recorded a trade deficit of USD -279,881 million with global countries in 2022, India’s trade with Brazil was on the positive note. India’s trade balance with Brazil was USD 2,608 million in 2022, making Brazil as India’s top 9^th trade partner. India reported a positive trade growth with the United States, the Netherlands, Bangladesh, Nepal, Türkiye, Israel, France, Italy, and the United Kingdom. Check the chart to understand the value of countries that recorded a positive growth with India in 2022.

India’s strategic partnership with Brazil has continued to intensify with a number of high-level engagements. With this, India-Brazil bilateral trade relations would achieve new milestones in future.