With a population exceeding 200 million, Brazil boasts a robust production capacity that not only satisfies domestic consumption but also enables the export of agricultural, mineral, and manufactured goods to other countries. This places Brazil in a privileged position within the global context of international trade. In 2023, Brazil ranked 25th as a global exporter by volume of goods, with a total of 244.4 million metric tons exported.
Brazil's Prominent Role in Global Trade:
A Deeper Look In 2023, Brazil's position as a leading global exporter was solidified, with a total export value of US$ 340.8 billion. This remarkable figure represents a 3.2% growth compared to 2022, further cementing Brazil's significance in the international trade landscape.
Key Factors Driving Brazil's Export Success:
Diversified Export Basket: Brazil's exports encompass a wide range of products, including soybeans, iron ore, crude oil, beef, and poultry. This diversification mitigates the country's vulnerability to commodity price fluctuations and ensures stable export revenue streams.
Strong Manufacturing Sector: Brazil boasts a well-established manufacturing sector that caters to both domestic and international markets. Key industries such as automotive, textile, and chemical contribute significantly to the country's export basket.
Strategic Geographic Location: Situated on the eastern coast of South America, Brazil enjoys convenient access to major markets in the Americas, Europe, and Africa. This facilitates trade connectivity and enhances the country's export potential.
Top Exported Products by Volume (million metric tons):
Iron Ore: 428.7
Soybeans: 84.4
Crude Oil: 57.9
Beef: 2.4
Chicken: 1.4
Key Exporting Sectors:
Agribusiness (44.7%)
Mining (22.8%)
Manufacturing (21.5%)
Colombia and Brazil: A Flourishing Trade Relationship
Colombia and Brazil have consistently maintained a vibrant international trade relationship, which has been further strengthened by various collaborative agreements aimed at enhancing import-export logistics between the two countries.
Bilateral Agreements:
Economic Complementation Agreement No. 72 (ACE 72): In effect since 1994, this agreement establishes tariff preferences for the trade of goods between Colombia and Brazil.
Memorandum of Understanding (MoU) on Cooperation in Customs Matters: Signed in 2012, this agreement aims to facilitate bilateral trade through customs cooperation.
Air Services Agreement: Signed in 2021, this agreement establishes the legal framework for the operation of air services between the two countries.
Multilateral Agreements:
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): Colombia joined the CPTPP in 2023, while Brazil is yet to become a member.
World Trade Organization (WTO): Both countries are members of the WTO, which means they are subject to the same rules and regulations governing international trade.
Key Points to Note:
ACE 72 is the main trade agreement currently in force between Colombia and Brazil.
Both countries are actively working to expand and deepen their trade relations.
Colombia's membership in the CPTPP is expected to boost bilateral trade with Brazil.
Trade Highlights:
In 2023, the total value of bilateral trade between Colombia and Brazil reached US$ 5.2 billion.
Brazil is one of Colombia's main trading partners in Latin America, after Argentina, accounting for 2.8% of Brazil's total trade in the region.
Major Colombian Exports to Brazil:
Agricultural products: Coal, palm oil, fresh flowers, bananas, and coffee.
Manufactured goods: Chemicals, textiles and clothing, machinery and electrical equipment, motor vehicles and parts.
Minerals: Gold, nickel, and ferronickel.
Major Brazilian Exports to Colombia:
Manufactured goods: Motor vehicles, auto parts, machinery and electrical equipment, chemicals, textiles and clothing.
Fuels and minerals: Crude oil, liquefied natural gas, coke, and iron ore.
Agricultural products: Chicken, pork, sugar, coffee, and soybeans.
At Roldán International Freight Solutions, we work with our partners to offer international freight transportation solutions by sea and air, allowing Brazilian and Colombian companies to have an ally that contributes to strengthening bilateral trade in the import and export of products and raw materials.
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