RIO DE JANEIRO, BRAZIL – The Brazilian trade balance recorded a surplus of US$61 billion in 2021, according to the Ministry of Economy released on Monday, December 3.
In the accumulated last year, exports grew 34% compared to 2020 and totaled US$280.4 billion. Imports grew 38.2% and totaled US$ 219.4 billion.
China remained Brazil’s leading trade partner, accounting for 31.3% of Brazilian exports in 2021 and 21.7% of imports, followed by the United States and Argentina. See rankings below.
Countries with the largest shares in Brazilian exports:
- China: US$87.7 billion (31.3%)
- United States: US$31.1 billion (11.1%)
- Argentina: US$11.9 billion (4,2%)
- The Netherlands: US$9.3 billion (3.3%)
- Chile: US$7 billion (2.5%)
- Singapore: US$5.9 billion (2.1%)
- Mexico: US$5.6 billion (1.98%)
- South Korea: US$5.5 billion (1.97%)
- Japan: US$5.5 billion (1.97%)
- Spain: US$5.4 billion (1.94%)
Other countries: US$105.4 billion (37.6%)
Among the countries that most increased their participation in Brazilian exports, Argentina stands out, with a 40% increase in the total value compared to 2020. There was also a significant increase in purchases made by the USA (+44.9%), the European Union (+32.1%), and China, Hong Kong, and Macau (+28%).
Countries with the largest shares in Brazilian imports:
- China: US$47.7 billion (21.7%)
- United States: US$39.4 billion (18%)
- Argentina: US$11.9 billion (5.4%)
- Germany: US$11.3 billion (5.2%)
- India: US$6.7 billion (3.1%)
- Russia: US$5.7 billion (2.6%)
- Italy: US$5.5 billion (2.5%)
- Japan: US$5.1 billion (2.4%)
- South Korea: US$5.1 billion (2.3%)
- France: US$4.8 billion (2.2%)
Other countries: US$76.1 billion (34.7%)
Compared to the previous year, the increase in the volumes purchased from Argentina (+51.3%), the USA (41.3%), China, Hong Kong, and Macau (+36.7%), and the European Union (+26.2%) stand out.
Soy, iron ore and oil represent 40% of exports.
The surplus of 2021 happened in a year marked by the growth in prices of commodities (products with a basic price, such as food, oil, and minerals) and by the high dollar.
Among exports, the most significant advances occurred in the extractive industry products (62.4%), leveraged by sales of iron ore (72.9%) and oil (54.3%).
The agribusiness sector increased its foreign shipments by 22.2%, mainly soybeans, with a 35.3% increase.
Manufacturing exports grew 26.3%, with the sector recovering from a -9% drop in 2020.
In a note, the Institute for Industrial Development Studies (Iedi) highlighted that the participation of the manufacturing industry in the aggregate of Brazilian exports continues on a contraction path. In 2021 it will represent 51% of total exports, against a share of 81% 20 years ago.
“Not only did the primarization of Brazil’s export profile advance last year, but the concentration in a few products also increased. In 2021, only soybeans, iron ore, and crude oil represented 40% of the country’s total exports. In 2020 these same items represented 35% of the total,” highlighted Iedi.
With information from G1
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+1.55%
174,576.80
+1.55%
65,522.56
-0.38%
11,450.75
-0.76%
3,009,029
+0.46%
2,508.47
-0.09%
60,117.56
+0.55%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 174,576.80 | +1.55% | +21.85% | 171,906.72 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
Read More from The Rio Times