Brazil - France Trade 2023 Q3: Widening Deficit
Key Market Takeaways: Brazil - France Trade
The bilateral trade relationship between Brazil and France is marked by a widening trade deficit and export underperformance in 2023 Q3.
- Economic Pulse: Brazil’s trade deficit with France hit $789.29M, driven by $1.52B in imports (slowing growth) against $730.71M in exports (sharp YoY declines).
- Exchange Structure: Brazil - France trade statistics reveal a resource-for-tech dynamic—Brazil supplies low-processed commodities (e.g., food waste, fuels) while importing high-value machinery and pharmaceuticals.
- Strategic Interdependence: The partnership is structurally complementary but imbalanced, with France holding the higher value-add position in the exchange.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-France Trade Trend in Q3 2023
Brazil Export Performance: Shipments to France
- Total Volume: $730.71M in Q3 2023.
- Growth Trend & Context:
- YoY decline persisted across all months, with August (-37.91%) and September (-16.59%) showing severe contractions.
- No specific trade news to explain the downturn.
- Key Volatility: September saw a 68.23% MoM surge, but this followed a low base in August ($200.75M).
Brazil Import Performance: Sourcing from France
- Total Volume: $1.52B in Q3 2023.
- Growth Trend & Context:
- YoY growth slowed to +3.33% in August and +3.65% in September, down from July’s +10.7%.
- Key Volatility: September imports dropped 10.65% MoM, the sharpest quarterly decline.
Brazil - France Trade Balance & Market Dynamics
- Net Position: Brazil ran a trade deficit of $789.29M (Imports exceeded exports).
- Relationship Status: Heavy reliance on French imports, with exports failing to offset demand. The deficit widened due to export underperformance.
Brazil Import Trend from France 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 540.70M | 12.7% | 10.7% |
| Aug | 516.12M | -4.55% | 3.33% |
| Sep | 461.17M | -10.65% | 3.65% |
| Total | 1.52B | - | - |
Brazil Export Trend to France 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 192.24M | -3.42% | -30.08% |
| Aug | 200.75M | 4.43% | -37.91% |
| Sep | 337.72M | 68.23% | -16.59% |
| Total | 730.71M | - | - |
Get Historical Brazil France Trade Records
Brazil-France Top Trading Products in Q3 2023
Brazil Export Profile: What Does Brazil Sell to France
- Top Commodity: Rank #1 Export is HS Code 23 (Residues and waste from the food industries) with a 25.74% share.
- Demand Driver: France uses these for industrial processing, likely as inputs for animal feed or biofuel production.
- Concentration: The top two exports (HS 23 and 27) account for nearly 50% of total exports, indicating moderate concentration.
Brazil Import Profile: What Does Brazil Buy from France
- Top Commodity: Rank #1 Import is HS Code 84 (Nuclear reactors, boilers, machinery) with a 28.19% share.
- Dependency Nature: Critical technology dependency, as Brazil imports high-value machinery and industrial equipment from France.
Brazil - France Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Brazil exports low-processed commodities (HS 23, 27) while importing high-tech machinery (HS 84, 90) and pharmaceuticals (HS 30).
- Value Chain Position: France holds the higher value-add position, supplying advanced manufactured goods, while Brazil provides raw materials and intermediate products.
Import Analysis by Product: France to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 427.85M | 28.19% |
| 30 | 142.47M | 9.39% |
| 29 | 116.90M | 7.70% |
| 38 | 110.99M | 7.31% |
| 87 | 97.22M | 6.40% |
| 39 | 80.42M | 5.30% |
| 88 | 69.01M | 4.55% |
| 85 | 65.44M | 4.31% |
| 90 | 59.04M | 3.89% |
| 33 | 55.13M | 3.63% |
Export Analysis by Product: Brazil to France (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 23 | 188.11M | 25.74% |
| 27 | 170.62M | 23.35% |
| 84 | 48.49M | 6.64% |
| 73 | 40.18M | 5.50% |
| 47 | 35.09M | 4.80% |
| 09 | 30.58M | 4.18% |
| 44 | 23.25M | 3.18% |
| 26 | 20.61M | 2.82% |
| 72 | 18.21M | 2.49% |
| 30 | 15.42M | 2.11% |
Check Detailed Brazil-France Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Brazil - France Trade
The Brazil - France trade relationship is likely to face continued pressure in the near term, with exports struggling to recover amid persistent YoY declines. France’s steady demand for Brazilian raw materials (HS 23, 27) may stabilize, but Brazil’s heavy reliance on high-value French machinery (HS 84) will keep the trade deficit wide. Without export diversification or a rebound in commodity prices, the deficit could deepen further. Traders should prepare for volatility, particularly in Q4, as Brazil’s export underperformance and import dependency remain unresolved.
Strategic Moves for Traders & Policymakers
- Diversify Export Markets: Brazil must reduce reliance on France by targeting new EU buyers for its agricultural and industrial residues (HS 23), mitigating export contraction risks.
- Secure Long-Term Tech Contracts: Brazilian importers should negotiate fixed-price agreements for French machinery (HS 84) to hedge against currency fluctuations and supply chain disruptions.
- Boost Value-Added Exports: Brazil should incentivize processing of raw materials (e.g., refining HS 27 products) to capture higher margins and reduce the tech-for-resource imbalance.
Frequently Asked Questions
How did Brazil - France trade perform in 2023 Q3?
Brazil's exports to France fell YoY, totaling $730.71M, while imports rose slightly to $1.52B, resulting in a widening trade deficit.
What are the top exports from Brazil to France?
Brazil's top exports to France are HS Code 23 (Residues and waste from food industries) and HS Code 27 (Mineral fuels), accounting for nearly 50% of total exports.
What does Brazil import from France?
Brazil primarily imports HS Code 84 (Nuclear reactors, boilers, machinery) and HS Code 90 (Optical, medical instruments), reflecting a dependency on high-tech French goods.
What is the trade balance between Brazil and France?
Brazil recorded a trade deficit of $789.29M with France in Q3 2023, driven by weaker exports and sustained demand for French imports.
Brazil - France Trade 2023 Q2: Deficit Deepens
Brazil's trade deficit with France hit $876.35M in Q2 2023, driven by surging imports and slumping exports. Explore Brazil France trade trends and top trading products with yTrade data.
Brazil - France Trade 2024 Whole Year: Deficit & Tech Imbalance
Brazil's 2024 trade deficit with France hits $3.31B, fueled by France's machinery & pharma dominance. Explore Brazil-France trade trends & top products via yTrade data.
