The world's seventh wealthiest economy (2011 GDP US$2.2 trillion), Brazil is the largest country in area and population in Latin America and the Caribbean. Brazil was one of the last to fall into recession in 2008 and among the first to resume growth in 2009. Brazil's GDP grew 7.5% in 2010 and 2.7% in 2011, because of the new global slowdown. The Growth Acceleration Plan (PAC, its acronym in Portuguese) was launched in 2007 to increase investment in infrastructure and provide tax incentives for faster and more robust economic growth. The program contributed to the country’s 7.5% growth in 2010 and its crisis resilience in 2009, when it had one of the smallest downturns among developed and emerging economies, and in 2011. Brazil faces important development challenges in combining the benefits of agricultural growth, environmental protection and the sustainable development. Brazil recorded a trade deficit of 186 USD Million in November of 2012. Balance of Trade in Brazil is reported by the Ministério do Desenvolvimento, Indústria e Comércio Exterior. Historically, from 1959 until 2012, Brazil Balance of Trade averaged 668.98 USD Million reaching an all time high of 5659.37 USD Million in July of 2006 and a record low of -1845.28 USD Million in December of 1996. Brazil has an export-oriented economy. The main exports are transport equipment, iron ore, industrial raw materials, soybeans, footwear, coffee, autos, automotive parts, machinery. Brazil imports machinery, electrical and transport equipment, chemical products, automotive part and electronics. The primary trading partners of Brazil are The United States, European Union and Argentina.
Eu-Brazil Trade Overview
Brazil holds 43% of the entire EU Investment stocks in Latin America. The EU is Brazil's first trading partner, accounting for 21.7% of its total trade (2010). During the last 5 years bilateral trade between the EU and Brazil has grown on average by 8.4% per year, showing the dynamism and complementarity of our trade relationship. EU imports from Brazil are dominated by primary products, in particular agricultural products (41%) and fuels and mining products (31%). But manufactured products such as machinery, transport equipment and miscellaneous manufactured products are also important: they represent around one fourth of Brazilian exports to the EU. Brazil is the single biggest exporter of agricultural products to the EU. EU's exports to Brazil consist mainly of manufactured products, such as machinery, transport equipment and chemicals. In goods, the EU runs an overall trade deficit with Brazil but has a surplus in commercial services trade. The EU is the biggest foreign investor in Brazil with investments in many sectors of the Brazilian economy. Around 50% of the FDI flows received by Brazil during the last 5 years was originating from the EU. Brazil is part of Mercosur and part of the EU's ongoing negotiations for a free trade agreement with that regional group. A future EU-Mercosur Association Agreement – currently under negotiation – should provide a boost to regional trade integration among the countries of Mercosur and stimulate new opportunities for trade and investment with the EU by removing tariff and non-tariff barriers to trade and FDI. The EU-Mercosur Association Agreement will cover, among other issues, trade in goods and services, investment, intellectual property rights (IPR) aspects including protection of geographical indications, government procurement, technical barriers to trade and sanitary and phyto-sanitary aspects.
Trade in Goods(Euro Billions)| Eu imports| Eu Exports| Balance| 2009| 25.4| 21.6| -3.9|
2010| 32.5| 31.4| -1.2|
2011| 37.8| 35.7| -2.1|
Trade in Services(Euro Billions)| Eu imports| Eu Exports| Balance| 2009| 6.3| 10.2| 3.8|
2010| 6.2| 9.4| 3.2|
2011| 5.6| 9.8| 120.4|
Brazil-Africa Trade Patterns and Overview
Brazil has emerged as...