In 2024, Brazil's total trade amounted to $614.6B, with exports of $337.0B and imports of $277.5B, resulting in a trade surplus of $59.5B.
Brazil ranked #21 globally for total trade, #20 for exports, and #23 for imports.
The country's top export partner was China, receiving 28.0% of exports, valued at $94.4B.
Top exports included Mineral fuels and oils (HS2 27) at $57.2B and Oil seeds (HS2 12) at $43.8B.
China was also the largest source of imports, accounting for 24.9% of total imports at a value of $69.2B.
Key imports included Machinery and mechanical appliances (HS2 84) at $42.8B and Mineral fuels and oils (HS2 27) at $36.6B.
Brazil's Trade Performance in 2024
In 2024, Brazil solidified its position as a major player in global trade, ranking #21 worldwide with a total trade volume of $614.6B. The country achieved a significant trade surplus of $59.5B for the year. Exports reached $337.0B, while imports stood at $277.5B. Brazil's primary trading partners for both exports and imports were China and the United States, highlighting their crucial roles in the nation's trade dynamics.
Brazil's export economy in 2024 was led by strong performance in commodities. The top export category was Mineral fuels and oils, which accounted for $57.2B or 17.0% of total exports. Following closely was Oil seeds, with exports valued at $43.8B (13.0% share). Another significant contributor was Ores, slag and ash, which brought in $35.0B.
On the import side, industrial and consumer goods were prominent. Machinery and mechanical appliances represented the largest import category at $42.8B, making up 15.4% of total imports. Mineral fuels and oils were also a major import, with a value of $36.6B. Electrical machinery and equipment followed, with imports totaling $32.5B for the year.