2023 Apr Brazil Global Trade Data Summary: Cooling Demand

Brazil 2023 Apr Trade Data Key Takeaways

• Market Trend: Brazil trade data shows exports down 6.5% and imports down 9.3% YoY, signaling cooling global and domestic demand.
• Key Driver: Brazil import export data reveals China dominates 33.55% of exports, exposing single-market dependency risks.
• Strategic Risk: Raw material exports and high-tech imports highlight structural gaps in industrial capacity.

Analysis covers 2023 Apr based on sanitized customs records from the yTrade database.

Brazil 2023 Apr Trade Data Trend Overview

• Brazil, a major agricultural and commodity exporter, saw its April 2023 Brazil global trade data reflect a broad-based downturn in cross-border activity.
• The country's Brazil import export data showed exports valued at $27.09B, contracting 6.5% year-on-year, while imports fell more sharply to $20.11B, down 9.3% from April 2022.
• This generated a monthly trade surplus of $6.98B, though the overall value of trade flows was significantly lower than the previous year.
• The synchronized decline in both export and import values points to cooling global demand and softer domestic consumption, likely influenced by prevailing macroeconomic headwinds and monetary tightening.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Brazil 2023 Apr Top Trading Products

Brazil Global Trade Core Summary

Brazil's trade is heavily resource-driven, with exports dominated by agricultural and mineral products. Oil seeds, mineral fuels, and ores make up nearly 50% of total exports, showing strong reliance on raw materials. Imports, however, lean toward machinery, electronics, and chemicals, indicating a need for industrial and technological inputs. The top three imports—mineral fuels, machinery, and electrical equipment—highlight energy and manufacturing dependencies. Key takeaways:

• Exports are concentrated in raw materials, exposing Brazil to commodity price swings.
• High import reliance on machinery and electronics signals limited domestic production capacity.
• Fertilizer imports suggest agricultural sector dependence on external inputs.

Brazil Export-Import Structural Gap

Brazil exports raw materials but imports finished goods, reflecting a classic resource-based economy. The overlap in mineral fuels (exported and imported) points to refining or energy trade complexities. Machinery and vehicle imports outweigh exports, showing gaps in high-value manufacturing. The lack of advanced exports (like pharmaceuticals or precision instruments) suggests untapped industrial upgrading potential. This trade structure keeps Brazil exposed to global commodity cycles while relying on foreign technology.

Table: Brazil Top Import & Export Product Categories (Source: yTrade)

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Brazil 2023 Apr Top Trading Countries

Brazil Global Trade Key Patterns

Brazil's exports show heavy reliance on Mainland China, which accounts for 33.55% ($9.09B) of total shipments, followed by the U.S. (9.84%, $2.66B) and Argentina (6.16%, $1.67B). The remaining top destinations are more diversified, including Mexico, the Netherlands, and Germany, but none exceed 3.2% share. Imports are less concentrated, with China (20.27%, $4.08B) and the U.S. (17.13%, $3.44B) as primary suppliers, while Germany, Argentina, and Russia contribute smaller shares (under 5% each). Key asymmetries:

• Exports are China-dependent, with the top 3 destinations taking nearly 50% of shipments.
• Imports are more balanced, with the top 2 suppliers (China, U.S.) covering 37%, and others below 5%.
• Overlap exists: China, U.S., Argentina, Mexico, and Germany appear in both lists, suggesting two-way trade flows.

Brazil Export–Import Geographic Gap

Brazil’s exports are highly concentrated in a few markets (China dominates), while imports are more diversified, though still led by China and the U.S. The export structure risks single-market dependency, whereas imports show broader sourcing. Overlapping trade partners (e.g., Argentina, Mexico) hint at regional supply chains or processing trade. The gap suggests downstream reliance on China for exports but upstream flexibility in imports.

Table: Brazil Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Brazil in 2023 Apr?

Brazil's top exports in April 2023 included oil seeds and oleaginous fruits (28.81% share, $7.80B), mineral fuels (11.58%, $3.14B), and ores/slag/ash (9.46%, $2.56B), based on HS code data.

What are the main products Brazil imports in 2023 Apr?

Key imports were mineral fuels (15.92%, $3.20B), machinery (13.78%, $2.77B), and electrical equipment (11.27%, $2.27B), per HS code classifications.

Which countries are the top destinations for Brazil's exports in 2023 Apr?

Mainland China ($4.08B, 20.27%) and the United States ($3.44B, 17.13%) were Brazil’s largest export markets, followed by Germany ($987.67M, 4.91%).

Which countries supply most of Brazil's imports in 2023 Apr?

Brazil primarily imported from Mainland China ($9.09B, 33.55%), the United States ($2.66B, 9.84%), and Argentina ($1.67B, 6.16%).

How balanced are Brazil's export and import markets in 2023 Apr?

Brazil recorded a $6.98B trade surplus despite declines in both exports (-6.5% YoY to $27.09B) and imports (-9.3% YoY to $20.11B), reflecting cooling global demand.