Brazil - Canada Trade 2024 Q2: Resource-Tech Exchange
Key Market Takeaways: Brazil - Canada Trade
The bilateral trade relationship between Brazil and Canada shows mixed growth with high volatility in Q2 2024.
- Economic Pulse: Brazil holds a $603.37M trade surplus with Canada ($1.48B exports vs. $876.63M imports), though both sides saw erratic monthly swings.
- Exchange Structure: Brazil - Canada trade statistics reveal a resource-for-tech complementarity—Brazil supplies precious metals (28.43% of exports) and sugar, while Canada dominates fertilizers (56.25% of imports) and machinery.
- Strategic Interdependence: The relationship is moderately concentrated, with Brazil dependent on Canadian agro-inputs and Canada leveraging Brazilian raw materials for industrial processing.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-Canada Trade Trend in Q2 2024
Brazil Export Performance: Shipments to Canada
- Total Volume: Brazil exported $1.48B worth of goods to Canada in Q2 2024.
- Growth Trend & Context:
- YoY growth was mixed: April saw a sharp 44.31% surge, but May dipped (-3.37%) before a modest 3.13% recovery in June.
- Key Volatility: May’s 20.63% MoM jump was the quarter’s highlight, followed by a 6.07% contraction in June.
Brazil Import Performance: Sourcing from Canada
- Total Volume: Imports from Canada totaled $876.63M in Q2 2024.
- Growth Trend & Context:
- YoY swings were extreme: April and May plummeted (-25.2% and -40.89%, respectively), but June rebounded with 16.12% growth.
- Key Volatility: June’s 21.44% MoM surge offset May’s -8.99% drop, signaling erratic demand.
Brazil - Canada Trade Balance & Market Dynamics
- Net Position: Brazil holds a $603.37M trade surplus with Canada (Exports: $1.48B > Imports: $876.63M).
- Relationship Status: Brazil remains a net exporter, though import volatility suggests uneven dependency on Canadian goods.
Brazil Import Trend from Canada 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 290.74M | 35.04% | -25.2% |
| May | 264.59M | -8.99% | -40.89% |
| Jun | 321.30M | 21.44% | 16.12% |
| Total | 876.63M | - | - |
Brazil Export Trend to Canada 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 443.25M | -4.14% | 44.31% |
| May | 534.68M | 20.63% | -3.37% |
| Jun | 502.23M | -6.07% | 3.13% |
| Total | 1.48B | - | - |
Get Historical Brazil Canada Trade Records
Brazil-Canada Top Trading Products in Q2 2024
Brazil Export Profile: What Does Brazil Sell to Canada
- Top Commodity: Precious stones/metals (HS 71) dominate, accounting for 28.43% of exports.
- Demand Driver: Canada uses these for industrial processing, likely in jewelry or high-tech manufacturing.
- Concentration: The top 3 exports (HS 71, 28, 17) make up 66.36% of total exports, showing moderate concentration.
Brazil Import Profile: What Does Brazil Buy from Canada
- Top Commodity: Fertilizers (HS 31) lead imports with a 56.25% share.
- Dependency Nature: Critical for Brazil’s agricultural sector, indicating a food security dependency.
Brazil - Canada Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Brazil exports raw materials (precious metals, sugar, ores) and imports high-value inputs (fertilizers, machinery).
- Value Chain Position: Canada holds the higher value-add position, supplying advanced industrial inputs (HS 84, 88) while Brazil provides commodities.
Import Analysis by Product: Canada to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 31 | 493.11M | 56.25% |
| 84 | 108.44M | 12.37% |
| 39 | 55.05M | 6.28% |
| 88 | 44.22M | 5.04% |
| 30 | 28.27M | 3.22% |
| 85 | 18.75M | 2.14% |
| 90 | 16.82M | 1.92% |
| 75 | 11.70M | 1.33% |
| 10 | 9.27M | 1.06% |
| 87 | 8.45M | 0.96% |
Export Analysis by Product: Brazil to Canada (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 71 | 420.76M | 28.43% |
| 28 | 365.18M | 24.67% |
| 17 | 196.30M | 13.26% |
| 88 | 125.05M | 8.45% |
| 72 | 78.33M | 5.29% |
| 84 | 52.48M | 3.55% |
| 09 | 51.91M | 3.51% |
| 85 | 23.52M | 1.59% |
| 26 | 20.43M | 1.38% |
| 02 | 17.80M | 1.20% |
Check Detailed Brazil-Canada Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Brazil-Canada Trade
Brazil’s trade surplus with Canada is expected to hold steady in Q3 2024, driven by sustained demand for precious metals (HS 71) and agricultural inputs. However, import volatility—particularly in fertilizers (HS 31)—suggests potential supply chain disruptions, requiring proactive risk management. The June rebound in Brazilian imports from Canada hints at recovering demand, but erratic swings demand caution. Long-term, the resource-for-tech complementarity will deepen, but short-term turbulence calls for tactical adjustments.
Strategic Moves for Traders & Exporters
- Lock in Fertilizer Contracts: With Canada supplying 56.25% of Brazil’s fertilizer imports, secure long-term agreements to hedge against price spikes and supply shocks.
- Diversify Export Markets for Commodities: Reduce reliance on Canada’s industrial demand by targeting emerging markets for precious metals (HS 71) and sugar (HS 17).
- Monitor Industrial Input Demand: Canada’s appetite for Brazilian raw materials is tied to high-tech manufacturing—track Canadian industrial output forecasts to anticipate order fluctuations.
Frequently Asked Questions
How did Brazil - Canada trade perform in 2024 Q2?
Brazil exported $1.48B to Canada, with mixed YoY growth, while imports totaled $876.63M, showing extreme YoY swings. Brazil maintained a $603.37M trade surplus.
What are the top exports from Brazil to Canada?
Precious stones/metals (HS 71) dominate, followed by HS 28 and HS 17, accounting for 66.36% of total exports.
What does Brazil import from Canada?
Fertilizers (HS 31) lead imports with a 56.25% share, critical for Brazil’s agricultural sector.
What is the trade balance between Brazil and Canada?
Brazil holds a $603.37M trade surplus with Canada, remaining a net exporter despite volatile import demand.
Brazil - Canada Trade 2024 Whole Year: $3.29B Surplus
Brazil's $3.29B trade surplus with Canada in 2024 highlights a resource-for-tech exchange. Explore Brazil Canada trade trends and top trading products like precious metals and fertilizers via yTrade data.
Brazil - Canada Trade 2024 Q4: Resource-Tech Surplus
Brazil's $1.23B trade surplus with Canada highlights a resource-for-tech exchange, with yTrade data revealing top trading products like metals and machinery in Q4 2024.
