Brazil - Singapore Trade 2024 Q2: Resource-for-Tech Surge
Key Market Takeaways: Brazil - Singapore Trade
The bilateral trade relationship between Brazil and Singapore is marked by Brazil's dominant export position amid volatile growth in Q2 2024.
- Economic Pulse: Brazil posted a $1.88B trade surplus with Singapore, exporting $2.08B (led by an 85% YoY surge in April) while imports fell 24% YoY to $196M.
- Exchange Structure: Brazil-Singapore trade statistics reveal a resource-for-tech dynamic—72% of Brazil’s exports are mineral fuels (HS 27), while 31% of imports are electrical machinery (HS 85).
- Strategic Interdependence: Highly complementary but asymmetric: Brazil fuels Singapore’s energy hub, while Singapore supplies critical tech inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-Singapore Trade Trend in Q2 2024
Brazil Export Performance: Shipments to Singapore
- Total Volume: Brazil's exports to Singapore totaled $2.08B in Q2 2024.
- Growth Trend & Context:
- Exports showed mixed YoY performance: +85.41% in April, followed by sharp declines of -53.13% in May and -41.22% in June.
- No specific trade news or policies were cited to explain these fluctuations.
- Key Volatility: April saw a 94.53% MoM surge, while May recorded a -44.3% MoM drop, indicating high short-term volatility.
Brazil Import Performance: Sourcing from Singapore
- Total Volume: Brazil's imports from Singapore reached $196.23M in Q2 2024.
- Growth Trend & Context:
- Imports contracted YoY across all months: -19.95% (April), -12.75% (May), and -39.09% (June).
- Key Volatility: June posted the steepest decline (-36.0% MoM), while May saw a 10.31% MoM rebound from April's low.
Brazil - Singapore Trade Balance & Market Dynamics
- Net Position: Brazil maintained a trade surplus of $1.88B (Exports: $2.08B; Imports: $196.23M).
- Relationship Status: Brazil is a dominant net exporter to Singapore, with exports exceeding imports by nearly 10x. The lack of significant news suggests structural trade dynamics rather than policy-driven shifts.
Brazil Import Trend from Singapore 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 69.86M | -6.73% | -19.95% |
| May | 77.06M | 10.31% | -12.75% |
| Jun | 49.32M | -36.0% | -39.09% |
| Total | 196.23M | - | - |
Brazil Export Trend to Singapore 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 982.04M | 94.53% | 85.41% |
| May | 546.96M | -44.3% | -53.13% |
| Jun | 551.88M | 0.9% | -41.22% |
| Total | 2.08B | - | - |
Get Historical Brazil Singapore Trade Records
Brazil-Singapore Top Trading Products in Q2 2024
Brazil Export Profile: What Does Brazil Sell to Singapore
- Top Commodity: Rank #1 export is HS 27 (Mineral Fuels, Oils) at 72.14% of total exports to Singapore.
- Demand Driver: Singapore uses these for industrial processing and re-export, given its role as a global energy hub.
- Concentration: Trade is heavily concentrated, with HS 27 alone accounting for over 70% of exports.
Brazil Import Profile: What Does Brazil Buy from Singapore
- Top Commodity: Rank #1 import is HS 85 (Electrical Machinery) at 30.77% of total imports from Singapore.
- Dependency Nature: Reflects critical technology dependency, as HS 85 covers high-value electronics and components.
Brazil - Singapore Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Brazil supplies raw materials (fuels, ores) while Singapore provides high-tech machinery and chemicals.
- Value Chain Position: Singapore holds the higher value-add position, exporting advanced manufactured goods (HS 84, 85, 90) versus Brazil’s commodity-heavy exports.
Import Analysis by Product: Singapore to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 60.38M | 30.77% |
| 84 | 42.50M | 21.66% |
| 30 | 25.06M | 12.77% |
| 38 | 15.88M | 8.09% |
| 90 | 15.05M | 7.67% |
| 39 | 12.20M | 6.22% |
| 29 | 6.75M | 3.44% |
| 40 | 4.99M | 2.54% |
| 76 | 2.33M | 1.18% |
| 33 | 1.81M | 0.92% |
Export Analysis by Product: Brazil to Singapore (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 1.50B | 72.14% |
| 84 | 179.63M | 8.63% |
| 02 | 157.28M | 7.56% |
| 90 | 60.34M | 2.90% |
| 26 | 55.94M | 2.69% |
| 72 | 41.64M | 2.00% |
| 22 | 19.02M | 0.91% |
| 79 | 18.15M | 0.87% |
| 29 | 5.31M | 0.25% |
| 85 | 4.72M | 0.23% |
Check Detailed Brazil-Singapore Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Brazil’s trade surplus with Singapore is expected to remain robust in Q3 2024, driven by sustained demand for mineral fuels (HS 27) from Singapore’s energy hub. However, the extreme volatility in monthly export figures signals potential supply chain disruptions or price sensitivity, requiring caution. Imports of high-tech machinery (HS 85) may stabilize but will likely stay subdued due to Brazil’s domestic economic constraints. Traders should prepare for a bumpy but structurally sound Brazil-Singapore trade relationship, with commodities anchoring the exchange.
Strategic Moves
- Lock in Fuel Export Contracts: Given Singapore’s reliance on Brazilian mineral fuels, exporters should secure long-term agreements to mitigate price swings and ensure stable revenue.
- Diversify Tech Imports: Brazil’s heavy dependence on Singapore for electrical machinery (HS 85) poses a supply chain risk. Importers must scout alternative suppliers in Southeast Asia or invest in local tech partnerships.
- Monitor Trade Policy Shifts: With no major policy changes currently affecting bilateral trade, businesses must stay alert for potential regulatory adjustments in either market, particularly in energy or tech sectors.
Frequently Asked Questions
How did Brazil - Singapore trade perform in 2024 Q2?
Brazil's exports to Singapore totaled $2.08B, with mixed YoY growth (+85.41% in April, -53.13% in May, -41.22% in June). Imports from Singapore fell to $196.23M, declining YoY across all months.
What are the top exports from Brazil to Singapore?
HS 27 (Mineral Fuels, Oils) dominates, accounting for 72.14% of Brazil's exports to Singapore, reflecting its role as a global energy hub.
What does Brazil import from Singapore?
HS 85 (Electrical Machinery) is the top import, making up 30.77% of Brazil's imports, highlighting Singapore's strength in high-tech exports.
What is the trade balance between Brazil and Singapore?
Brazil maintains a $1.88B trade surplus, with exports exceeding imports by nearly 10x, underscoring its dominant net exporter position.
Brazil - Singapore Trade 2024 Q1: Resource-Tech Surge
Brazil's $1.71B surplus with Singapore highlights a resource-for-tech exchange, with mineral fuels dominating exports. Explore Brazil-Singapore trade trends on yTrade.
Brazil - Singapore Trade 2024 Q4: Resource-for-Tech Boom
Brazil's $1.61B surplus with Singapore highlights a resource-for-tech exchange, with mineral fuels dominating exports and high-tech machinery leading imports. Explore Brazil-Singapore trade trends on yTrade.
