Top Brazil Exports 2023 Q1: Commodity Dominance
Brazil Export Portfolio Overview in 2023 Q1
- Mineral fuels (HS 27) and oil seeds (HS 12) dominate, accounting for 31.24% of total exports.
- High concentration risk: top three sectors (fuels, oil seeds, ores) represent 40.55% of exports, heavily exposed to commodity price volatility.
- This structure confirms Brazil's role as a global supplier of raw materials, not a value-added manufacturing hub.
Table: Brazil Top Export Product in 2023 Q1 (Source: yTrade)
| HS Code | Description | Value | Percent |
|---|---|---|---|
| 27 | Mineral fuels, mineral oils and products of their distill... | 12.84B | 16.93% |
| 12 | Oil seeds and oleaginous fruits; miscellaneous grains, se... | 10.85B | 14.31% |
| 26 | Ores, slag and ash | 7.06B | 9.31% |
| 02 | Meat and edible meat offal | 5.16B | 6.80% |
| 72 | Iron and steel | 3.82B | 5.04% |
| 10 | Cereals | 3.53B | 4.65% |
| 84 | Nuclear reactors, boilers, machinery and mechanical appli... | 3.36B | 4.43% |
| 87 | Vehicles other than railway or tramway rolling-stock, and... | 3.02B | 3.99% |
| 23 | Residues and waste from the food industries; prepared ani... | 2.70B | 3.56% |
| 17 | Sugars and sugar confectionery | 2.30B | 3.03% |
Get Complete Brazil Export HS Code Breakdown
Key Driver: Mineral Fuels
- Crude petroleum oils (HS 2709) drive 76.67% of the sector's value.
- This is a pure raw material export, unrefined and price-sensitive.
- Dominance stems from Brazil's deep-water reserves (pre-salt fields) and extraction capacity, not refining or chemical processing advantage.
Table: HS Code 27 Detailed Breakdown
| HS Code | Value | Percent |
|---|---|---|
| 2709 | 9.84B | 76.67% |
| 2710 | 2.68B | 20.90% |
| 2713 | 169.87M | 1.32% |
| 2716 | 121.32M | 0.94% |
| 2707 | 13.62M | 0.11% |
| 2706 | 4.32M | 0.03% |
| 2712 | 1.47M | 0.01% |
| 2715 | 1.13M | 0.01% |
| 2703 | 134.06K | 0.00% |
| 2708 | 127.24K | 0.00% |
Get Complete Brazil Export HS Code Breakdown
Key Driver: Oil Seeds
- Soybeans (HS 1201) account for 98.37% of this sector’s exports.
- Acts as a complement to fuels—both are bulk commodities vulnerable to climate and global demand shifts.
- Strategic as Brazil is a top global soy producer, leveraging scalable agribusiness and arable land mass.
Table: HS Code 12 Detailed Breakdown
| HS Code | Value | Percent |
|---|---|---|
| 1201 | 10.68B | 98.37% |
| 1202 | 71.22M | 0.66% |
| 1207 | 70.40M | 0.65% |
| 1209 | 24.46M | 0.23% |
| 1205 | 6.38M | 0.06% |
| 1211 | 2.34M | 0.02% |
| 1208 | 775.37K | 0.01% |
| 1212 | 374.33K | 0.00% |
| 1213 | 303.88K | 0.00% |
| 1214 | 47.57K | 0.00% |
Get Complete Brazil Export HS Code Breakdown
Key Driver: Ores
- Iron ores and concentrates (HS 2601) constitute 86.87% of the sector.
- A stable legacy export, tied to global steel production cycles.
- Reflects Brazil’s mineral wealth but also underscores dependence on Chinese industrial demand.
Table: HS Code 26 Detailed Breakdown
| HS Code | Value | Percent |
|---|---|---|
| 2601 | 6.13B | 86.87% |
| 2603 | 726.02M | 10.28% |
| 2604 | 58.82M | 0.83% |
| 2602 | 47.06M | 0.67% |
| 2606 | 43.49M | 0.62% |
| 2615 | 15.45M | 0.22% |
| 2614 | 9.68M | 0.14% |
| 2609 | 7.36M | 0.10% |
| 2607 | 7.19M | 0.10% |
| 2613 | 5.75M | 0.08% |
Access Brazil Complete Export Profile
Frequently Asked Questions
What is Brazil's largest export commodity in 2023 Q1?
The largest export category is Mineral fuels, mineral oils and products of their distillation (HS 27), valued at $12.84B. This sector is primarily driven by exports of Crude oil (HS 2709), which alone accounts for 76.67% of the sector's total value.
Which specific Mineral Fuels products does Brazil export most in 2023 Q1?
Within the Mineral Fuels sector, the top exports are Crude oil (HS 2709, $9.84B) and Petroleum oils (excluding crude) (HS 2710, $2.68B), which together account for 97.57% of the sector's exports.
Does Brazil export Oil Seeds and Oleaginous Fruits in 2023 Q1?
Yes. Oil seeds and oleaginous fruits (HS 12) is Brazil's second-largest export sector, valued at $10.85B. The primary driver is Soybeans (HS 1201), which make up 98.37% of the sector's exports.
What are the main industries driving Brazil's economy?
Brazil's economy is heavily reliant on its top three export sectors:
- Mineral Fuels (HS 27, $12.84B)
- Oil Seeds (HS 12, $10.85B)
- Ores, Slag, and Ash (HS 26, $7.06B)
Together, these account for 40.45% of Brazil's total exports in Q1 2023.
How to find Brazil Mineral Fuels suppliers?
You can access a list of active suppliers and exporters for Mineral Fuels (HS 27) using the yTrade database, which provides detailed shipment records and company contacts.
Top Brazil Exports 2023: Commodity Dominance
Brazil's top export product in 2023 was dominated by mineral fuels and oil seeds, accounting for over 30% of total exports. Discover key trends and top export destinations with yTrade.
Top Brazil Exports 2023 Q2: Commodity Dominance
Brazil's top export product in Q2 2023 was dominated by soybeans, crude oil, and iron ore, reflecting its role as a global raw material supplier. Discover the top export destinations with yTrade.
