Brazil - Canada Trade 2025 Q2: $719M Surplus

Key Market Takeaways: Brazil - Canada Trade

The bilateral trade relationship between Brazil and Canada shows growth with notable volatility in Q2 2025.

• Brazil holds a $719.10M trade surplus, with exports ($1.61B) nearly doubling imports ($890.90M), though both sides saw erratic monthly swings.
• Brazil - Canada trade statistics reveal a resource-for-tech exchange: Brazil ships precious metals (45% of exports) while relying on Canadian fertilizers (57% of imports) for its agribusiness sector.
• Complementary but lopsided: Canada captures higher value-add in processed goods, while Brazil supplies raw materials, reflecting asymmetric interdependence.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Brazil-Canada Trade Trend in Q2 2025

Brazil Export Performance: Shipments to Canada

• Total Volume: $1.61B in Q2 2025.
• Growth Trend & Context:
  • YoY growth was mixed: April (+29.35%) and June (+11.76%) saw strong gains, but May (-11.53%) dragged down the quarter.
  • No specific trade news to explain volatility.
• Key Volatility: June’s 18.66% MoM rebound after May’s -17.5% drop highlights erratic demand.

Brazil Import Performance: Sourcing from Canada

• Total Volume: $890.90M in Q2 2025.
• Growth Trend & Context:
  • YoY swings: April (-16.88%) contracted, but May (+21.57%) and June (+1.95%) recovered.
• Key Volatility: May’s 33.1% MoM surge was the quarter’s peak, followed by June’s flat growth (+1.83%).

Brazil - Canada Trade Balance & Market Dynamics

• Net Position: Brazil holds a trade surplus of $719.10M (Exports $1.61B > Imports $890.90M).
• Relationship Status: Brazil maintains a clear net exporter role, though import volatility suggests uneven Canadian supply chains.

(No news context provided to explain trends; analysis strictly data-driven.)

Brazil Import Trend from Canada 2025 Q2 (Source: yTrade)**

Brazil Export Trend to Canada 2025 Q2 (Source: yTrade)**

Get Historical Brazil Canada Trade Records

Brazil-Canada Top Trading Products in Q2 2025

Brazil Export Profile: What Does Brazil Sell to Canada

• Top Commodity: Precious stones/metals (HS 71) dominate, accounting for 45.44% of exports.
• Demand Driver: Canada likely uses these raw materials for industrial processing, particularly in jewelry or high-tech manufacturing.
• Concentration: The trade is highly concentrated, with HS 71 alone nearing half of total exports.

Brazil Import Profile: What Does Brazil Buy from Canada

• Top Commodity: Fertilizers (HS 31) lead imports, making up 57.04% of the total.
• Dependency Nature: Reflects agricultural input dependency, critical for Brazil’s agribusiness sector.

Brazil - Canada Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Brazil exports raw materials (precious metals) and imports high-value agro-inputs (fertilizers).
• Value Chain Position: Canada holds the higher value-add position, supplying processed agrochemicals, while Brazil provides unprocessed minerals.

Import Analysis by Product: Canada to Brazil (Source: yTrade)

Export Analysis by Product: Brazil to Canada (Source: yTrade)

Check Detailed Brazil-Canada Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Brazil’s trade surplus with Canada is expected to hold steady in Q3 2025, driven by sustained demand for precious metals (HS 71) and fertilizers (HS 31). However, volatility in monthly export growth signals potential supply chain disruptions or shifting Canadian demand, requiring close monitoring. The resource-for-tech complementarity will likely deepen, but Brazil must address its over-reliance on a single export commodity to mitigate risk. Traders should prepare for price fluctuations in precious metals and fertilizers, given the erratic quarterly performance.

Strategic Moves

• Diversify Export Basket: Brazil’s heavy dependence on precious metals (45.44% of exports) leaves it vulnerable to market swings. Exporters should explore opportunities in other high-potential sectors like aerospace or automotive parts to reduce concentration risk.
• Lock in Fertilizer Supply Contracts: With fertilizers (HS 31) accounting for 57.04% of imports, Brazilian agribusinesses should secure long-term agreements with Canadian suppliers to stabilize input costs amid volatile trade flows.
• Monitor Canadian Industrial Trends: Given Canada’s role as a high-value processor of Brazilian raw materials, traders must track shifts in Canadian manufacturing demand—particularly in jewelry and tech—to anticipate future export opportunities or downturns.

Frequently Asked Questions

How did Brazil - Canada trade perform in 2025 Q2?

Brazil exported $1.61B to Canada and imported $890.90M, with mixed YoY growth in exports and a rebound in imports after April’s contraction.

What are the top exports from Brazil to Canada?

Precious stones and metals (HS 71) dominate, accounting for 45.44% of Brazil’s exports to Canada.

What does Brazil import from Canada?

Fertilizers (HS 31) are the top import, making up 57.04% of Brazil’s purchases from Canada.

What is the trade balance between Brazil and Canada?

Brazil holds a trade surplus of $719.10M, maintaining its net exporter role despite import volatility.