Brazil - Singapore Trade 2023 Q1: Resource-for-Tech Exchange

Key Market Takeaways: Brazil - Singapore Trade

The bilateral trade relationship between Brazil and Singapore is marked by volatility and a dominant Brazilian surplus in Q1 2023.

• Brazil holds a $1.56B trade surplus, with exports ($1.82B) dwarfing imports ($262.72M), despite sharp YoY declines in key months.
• Brazil - Singapore trade statistics reveal a resource-for-tech exchange: Brazil supplies 85.56% mineral fuels (HS 27), while Singapore exports high-tech machinery (HS 85, 18.89%).
• Complementary but lopsided: Brazil’s commodity-driven exports highlight Singapore’s role as a value-added tech supplier, with limited bilateral dependency.

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

Brazil-Singapore Trade Trend in Q1 2023

Brazil Export Performance: Shipments to Singapore

• Total Volume: $1.82B in Q1 2023.
• Growth Trend & Context: YoY decline dominated, with March plummeting -41.24%. No news to explain the contraction.
• Key Volatility: January saw a 38.65% MoM surge, but February and March posted sharp drops (-19.39% and -36.73% MoM, respectively).

Brazil Import Performance: Sourcing from Singapore

• Total Volume: $262.72M in Q1 2023.
• Growth Trend & Context: YoY swings: March surged 82.38%, but January and February fell -14.47% and -7.87%. No news to contextualize.
• Key Volatility: March spiked 160.37% MoM, offsetting a -50.08% collapse in January.

Brazil - Singapore Trade Balance & Market Dynamics

• Net Position: Brazil holds a $1.56B trade surplus with Singapore (Exports: $1.82B > Imports: $262.72M).
• Relationship Status: Brazil is a dominant net exporter, with exports nearly 7x imports. No signs of dependency on Singaporean goods.

Brazil Import Trend from Singapore 2023 Q1 (Source: yTrade)**

Brazil Export Trend to Singapore 2023 Q1 (Source: yTrade)**

Get Historical Brazil Singapore Trade Records

Brazil-Singapore Top Trading Products in Q1 2023

Brazil Export Profile: What Does Brazil Sell to Singapore

• Top Commodity: Rank #1 export is HS 27 (Mineral fuels, oils, distillation products) with 85.56% share.
• Demand Driver: Singapore uses these for industrial processing and energy needs.
• Concentration: Trade is heavily dominated by HS 27 (>50% share), indicating high reliance on a single category.

Brazil Import Profile: What Does Brazil Buy from Singapore

• Top Commodity: Rank #1 import is HS 85 (Electrical machinery, equipment) with 18.89% share.
• Dependency Nature: Critical technology dependency, as imports include high-tech machinery and electronics.

Brazil - Singapore Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Brazil exports raw materials (mineral fuels) while importing high-tech goods (machinery, electronics).
• Value Chain Position: Singapore holds the higher value-add position, supplying advanced manufactured goods, while Brazil provides commodities.

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

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

Check Detailed Brazil-Singapore Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Brazil’s trade surplus with Singapore is likely to persist in Q2 2023, driven by sustained demand for mineral fuels (HS 27) despite recent volatility. However, exporters should brace for further fluctuations, as Singapore’s industrial demand may soften amid global economic uncertainty. The sharp March rebound in imports of high-tech machinery (HS 85) signals potential growth in this sector, but Brazil’s overreliance on commodity exports leaves it vulnerable to price swings. Traders must monitor energy markets and Singapore’s tech-driven import appetite to navigate this uneven Brazil-Singapore trade forecast.

Strategic Moves

• Lock in Fuel Supply Contracts: Brazilian exporters should secure long-term agreements with Singaporean buyers to stabilize revenue amid volatile mineral fuel prices.
• Diversify Export Basket: Reduce dependency on HS 27 by promoting secondary exports like agricultural goods or processed metals to mitigate risk.
• Boost Tech Imports Strategically: Target Singaporean electrical machinery (HS 85) imports to modernize Brazil’s industrial base, but negotiate bulk purchase discounts to offset rising costs.

Frequently Asked Questions

How did Brazil - Singapore trade perform in 2023 Q1?

Brazil's exports to Singapore totaled $1.82B in Q1 2023, with a YoY decline, while imports from Singapore reached $262.72M, showing mixed YoY growth.

What are the top exports from Brazil to Singapore?

The top export from Brazil to Singapore is HS 27 (Mineral fuels, oils, distillation products), accounting for 85.56% of total exports.

What does Brazil import from Singapore?

Brazil's top import from Singapore is HS 85 (Electrical machinery, equipment), representing 18.89% of total imports.

What is the trade balance between Brazil and Singapore?

Brazil holds a $1.56B trade surplus with Singapore, as exports far exceed imports. The gap remains significant, with exports nearly 7x imports.