Brazil - Netherlands Trade 2024 Q1: Strong but Volatile

Key Market Takeaways: Brazil - Netherlands Trade

The bilateral trade relationship between Brazil and Netherlands remains strong but volatile, with Brazil maintaining a significant surplus in Q1 2024.

• Economic Pulse: Brazil posted a $1.65B trade surplus ($2.41B exports vs. $761.76M imports), though both flows saw YoY declines amid sharp monthly swings.
• Exchange Structure: Bilateral trade data reveals a resource-for-resource complementarity—Brazil supplies crude fuels and raw materials (HS 27, 23, 26), while Netherlands delivers refined petroleum (HS 27) and machinery (HS 84).
• Strategic Interdependence: The partnership hinges on energy security, with Netherlands adding value to Brazil’s raw exports, but trade volatility signals sensitivity to global commodity shifts.

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

Brazil-Netherlands Trade Trend in Q1 2024

Brazil Export Performance: Shipments to Netherlands

• Total Volume: $2.41B in Q1 2024.
• Growth Trend & Context: YoY decline persisted across all months, with March showing the sharpest drop (-29.25%). No trade policy shifts were reported to explain the contraction.
• Key Volatility: February saw a -25.69% MoM drop, while March rebounded with a 37.27% MoM surge.

Brazil Import Performance: Sourcing from Netherlands

• Total Volume: $761.76M in Q1 2024.
• Growth Trend & Context: YoY figures were negative in February (-46.08%) and March (-21.12%), though January posted a 17.35% YoY gain. No supply disruptions were noted.
• Key Volatility: January’s imports spiked 46.46% MoM, followed by a -49.74% collapse in February.

Brazil - Netherlands Trade Balance & Market Dynamics

• Net Position: Brazil recorded a trade surplus of $1.65B (Exports: $2.41B > Imports: $761.76M).
• Relationship Status: Brazil maintains a strong net exporter position, with exports to Netherlands exceeding imports by over 3x.

Brazil Import Trend from Netherlands 2024 Q1 (Source: yTrade)**

Brazil Export Trend to Netherlands 2024 Q1 (Source: yTrade)**

Get Historical Brazil Netherlands Trade Records

Brazil-Netherlands Top Trading Products in Q1 2024

Brazil Export Profile: What Does Brazil Sell to Netherlands

• Top Commodity: Rank #1 export is HS Code 27 (Mineral fuels, oils, distillation products) at 23.19% of total exports.
• Demand Driver: Netherlands uses these for industrial processing and energy needs, reflecting Brazil's role as a raw materials supplier.
• Concentration: No single category dominates (>50%), but the top 3 exports (HS 27, 23, 26) account for 45.17%, indicating moderate reliance on primary goods.

Brazil Import Profile: What Does Brazil Buy from Netherlands

• Top Commodity: Rank #1 import is HS Code 27 (Mineral fuels, oils, distillation products) at 44.68%, nearly half of total imports.
• Dependency Nature: Energy security dependency, as Brazil sources refined petroleum products (likely re-exports or specialized fuels) from Netherlands.

Brazil - Netherlands Trade Relationship Dynamics

• The Exchange Model: Resource-for-Resource Complementarity. Both sides trade heavily in mineral fuels (HS 27), but Brazil's exports are crude/raw (HS 26, 23) while Netherlands supplies refined products.
• Value Chain Position: Netherlands holds higher value-add, exporting processed fuels (HS 27) and machinery (HS 84), while Brazil provides raw ores (HS 26), animal feed (HS 23), and agricultural goods (HS 20, 08).

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

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

Check Detailed Brazil-Netherlands Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Brazil’s trade with the Netherlands is likely to remain volatile in Q2 2024, with exports under pressure due to weak YoY performance and erratic monthly swings. The persistent decline in mineral fuels (HS 27) shipments suggests softening demand or pricing pressures, while the Netherlands’ refined fuel exports to Brazil indicate an entrenched but imbalanced energy trade. However, Brazil’s surplus position provides leverage—if raw material prices stabilize, exporters could regain momentum. Traders should prepare for uneven recovery, with upside potential tied to global commodity trends.

Strategic Moves

• Diversify Export Mix: Reduce reliance on mineral fuels by pushing agricultural exports (HS 20, 08) where Brazil holds competitive pricing. Target Dutch food processing firms with long-term supply agreements.
• Lock in Refined Fuel Contracts: Brazilian importers should negotiate fixed-price terms for HS 27 products from the Netherlands to hedge against energy market volatility.
• Monitor Logistics Costs: With MoM trade swings exceeding 30%, optimize shipping schedules to avoid empty backhauls. Prioritize routes with balanced cargo flows to cut freight expenses.

Frequently Asked Questions

How did Brazil - Netherlands trade perform in 2024 Q1?

Brazil's exports to the Netherlands declined YoY to $2.41B, while imports fell to $761.76M, with volatile monthly swings in both directions.

What are the top exports from Brazil to Netherlands?

The top exports are mineral fuels (HS 27), animal feed (HS 23), and ores (HS 26), accounting for 45.17% of total exports.

What does Brazil import from Netherlands?

Brazil primarily imports refined mineral fuels (HS 27, 44.68% of total) and machinery (HS 84) from the Netherlands.

What is the trade balance between Brazil and Netherlands?

Brazil maintained a strong trade surplus of $1.65B in Q1 2024, with exports exceeding imports by over 3x.