Brazil - Canada Trade 2024 Q4: Resource-Tech Surplus
Key Market Takeaways: Brazil - Canada Trade
The bilateral trade relationship between Brazil and Canada shows mixed growth with Brazil maintaining a strong surplus in Q4 2024.
- Economic Pulse: Brazil holds a $1.23B trade surplus ($1.87B exports vs. $635.63M imports), though exports saw volatility with a sharp December drop (-10.89% MoM).
- Exchange Structure: Brazil - Canada trade statistics reveal a resource-for-tech complementarity—Brazil supplies raw materials (precious metals, sugar) while Canada dominates high-value industrial goods (fertilizers, machinery).
- Strategic Interdependence: Highly complementary economies, with Brazil dependent on Canadian fertilizers for agriculture and Canada sourcing Brazilian commodities for manufacturing.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-Canada Trade Trend in Q4 2024
Brazil Export Performance: Shipments to Canada
- Total Volume: $1.87B in Q4 2024.
- Growth Trend & Context:
- Mixed YoY performance: October (+19.33%) and November (+31.19%) saw strong growth, but December declined (-2.81%).
- No specific trade news to explain fluctuations.
- Key Volatility: December recorded the sharpest MoM drop (-10.89%).
Brazil Import Performance: Sourcing from Canada
- Total Volume: $635.63M in Q4 2024.
- Growth Trend & Context:
- Consistent YoY declines: October (-22.07%), November (-15.61%), December (-18.0%).
- Key Volatility: October had the steepest MoM fall (-17.12%).
Brazil - Canada Trade Balance & Market Dynamics
- Net Position: Brazil holds a trade surplus of $1.23B (Exports: $1.87B > Imports: $635.63M).
- Relationship Status: Brazil is a net exporter to Canada, with exports nearly triple the import volume.
Brazil Import Trend from Canada 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 214.51M | -17.12% | -22.07% |
| Nov | 213.85M | -0.31% | -15.61% |
| Dec | 207.28M | -3.07% | -18.0% |
| Total | 635.63M | - | - |
Brazil Export Trend to Canada 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 661.77M | 17.11% | 19.33% |
| Nov | 639.62M | -3.35% | 31.19% |
| Dec | 569.99M | -10.89% | -2.81% |
| Total | 1.87B | - | - |
Get Historical Brazil Canada Trade Records
Brazil-Canada Top Trading Products in Q4 2024
Brazil Export Profile: What Does Brazil Sell to Canada
- Top Commodity: Rank #1 export is HS Code 71 (Pearls, precious stones, metals) at 31.59% of total exports to Canada.
- Demand Driver: Canada likely uses these raw materials for industrial processing, particularly in jewelry or high-tech manufacturing.
- Concentration: The top 3 exports (HS 71, 28, 17) account for 74.06% of total exports, indicating high trade concentration.
Brazil Import Profile: What Does Brazil Buy from Canada
- Top Commodity: Rank #1 import is HS Code 31 (Fertilizers) at 44.00% of total imports from Canada.
- Dependency Nature: Reflects a strategic agricultural input dependency, as Brazil relies on Canadian fertilizers for its large-scale farming sector.
Brazil - Canada Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Brazil exports raw materials (precious metals, sugar, ores) and imports high-value industrial goods (fertilizers, machinery, aircraft).
- Value Chain Position: Canada holds the higher value-add position, supplying critical technology (HS 84, 88) and industrial inputs, while Brazil provides commodities.
Import Analysis by Product: Canada to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 31 | 279.67M | 44.00% |
| 84 | 139.98M | 22.02% |
| 88 | 50.57M | 7.96% |
| 39 | 33.24M | 5.23% |
| 30 | 22.42M | 3.53% |
| 85 | 16.88M | 2.66% |
| 90 | 15.45M | 2.43% |
| 72 | 7.62M | 1.20% |
| 75 | 6.94M | 1.09% |
| 38 | 6.05M | 0.95% |
Export Analysis by Product: Brazil to Canada (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 71 | 591.12M | 31.59% |
| 28 | 541.94M | 28.96% |
| 17 | 252.91M | 13.51% |
| 09 | 77.66M | 4.15% |
| 84 | 64.61M | 3.45% |
| 88 | 60.79M | 3.25% |
| 72 | 59.84M | 3.20% |
| 85 | 28.84M | 1.54% |
| 02 | 28.72M | 1.53% |
| 27 | 19.49M | 1.04% |
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 Q1 2025, driven by sustained demand for precious metals (HS 71) and agricultural inputs. However, volatility in monthly export growth—especially December’s sharp drop—signals potential short-term disruptions, possibly due to fluctuating commodity prices or logistical bottlenecks. On the import side, Canada’s declining shipments of fertilizers (HS 31) may reflect shifting Brazilian sourcing strategies or seasonal adjustments. Traders should monitor Canada’s industrial demand and Brazil’s agricultural cycle to anticipate swings in this complementary exchange.
Strategic Moves for Traders & Exporters
- Lock in Long-Term Contracts for Precious Metals: With HS 71 dominating exports, Brazilian suppliers should secure multi-quarter agreements with Canadian buyers to stabilize revenue amid price volatility.
- Diversify Fertilizer Suppliers: Brazil’s heavy reliance on Canadian fertilizers (44% of imports) poses a supply-chain risk. Importers must explore alternative markets (e.g., Russia, Morocco) to mitigate dependency.
- Capitalize on Tech-Driven Demand: Canada’s high-value imports (e.g., machinery, aircraft under HS 84/88) signal opportunities for Brazilian firms to negotiate tech transfers or joint ventures, upgrading local manufacturing capabilities.
Bottom Line: Brazil’s resource-for-tech trade with Canada will persist, but proactive risk management and diversification are critical to sustaining growth.
Frequently Asked Questions
How did Brazil - Canada trade perform in 2024 Q4?
Brazil exported $1.87B to Canada (mixed YoY growth) and imported $635.63M (consistent YoY declines).
What are the top exports from Brazil to Canada?
Top exports: Pearls/precious stones/metals (HS 71), chemicals (HS 28), and sugar (HS 17), accounting for 74.06% of total exports.
What does Brazil import from Canada?
Top import: Fertilizers (HS 31) at 44.00% of total imports, reflecting Brazil’s agricultural input dependency.
What is the trade balance between Brazil and Canada?
Brazil holds a $1.23B trade surplus with Canada, as exports nearly triple imports.
Brazil - Canada Trade 2024 Q2: Resource-Tech Exchange
Brazil's $603M surplus with Canada highlights a resource-for-tech trade trend. Brazil exports precious metals, Canada supplies fertilizers—see yTrade data for top trading products.
Brazil - Canada Trade 2025 Q1: Surplus Soars
Brazil's trade surplus with Canada hit $1.2B in Q1 2025, fueled by precious metals exports. Explore Brazil Canada trade trends and top trading products via yTrade data.
