Top Brazil Exports 2023 Q2: Commodity Dominance

Brazil Export Portfolio Overview in 2023 Q2

• Agricultural and mineral commodities dominate, led by oil seeds (25.6%) and mineral fuels (13.1%).
• High concentration risk: top three sectors (soybeans, crude oil, iron ore) account for nearly half of all exports.
• Reinforces Brazil’s role as a global supplier of raw materials, with limited diversification into high-value finished goods.

Table: Brazil Top Export Product in 2023 Q2 (Source: yTrade)

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Key Driver: Oil seeds and oleaginous fruits

• Driven overwhelmingly by HS 1201: soybeans, representing 99.3% of the sector’s value.
• Pure raw material export, entirely dependent on agricultural output and global commodity demand.
• Reflects Brazil’s vast arable land, favorable climate, and scaling efficiency in agribusiness supply chains.

Table: HS Code 12 Detailed Breakdown

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Key Driver: Mineral fuels, mineral oils and products

• Dominated by HS 2709: crude petroleum, constituting 74.3% of the sector.
• Acts as a complement to agricultural exports, diversifying revenue sources but still within the raw material bracket.
• Strategically important for energy export earnings, though exposed to oil price volatility and extraction costs.

Table: HS Code 27 Detailed Breakdown

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Key Driver: Ores, slag and ash

• Led by HS 2601: iron ore, making up 86.7% of the sector.
• Represents a stable legacy export, underpinned by Brazil’s extensive mineral reserves.
• Supports global steel production, but lacks downstream value addition within Brazil.

Table: HS Code 26 Detailed Breakdown

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Frequently Asked Questions

What is Brazil's largest export commodity in 2023 Q2?

The largest export category is Oil seeds and oleaginous fruits (HS 12), valued at $22.84B. This sector is primarily driven by exports of Soybeans (HS 1201), which alone account for 99.34% of the sector's total value.

Which specific Oil seeds and oleaginous fruits products does Brazil export most in 2023 Q2?

Within the Oil seeds sector, the top exports are Soybeans (HS 1201) at $22.69B, followed by Groundnuts (HS 1202) at $108.67M, and Seeds for sowing (HS 1209) at $21.30M. Together, these three products dominate the industry.

Does Brazil export Mineral fuels, mineral oils in 2023 Q2?

Yes. Mineral fuels and oils (HS 27) is Brazil’s second-largest export sector, valued at $11.73B. The primary driver is Crude petroleum oil (HS 2709), which makes up 74.31% of the sector’s exports.

What are the main industries driving Brazil's economy?

Brazil’s economy is heavily reliant on three key sectors:

1. Oil seeds (HS 12) - $22.84B (25.56%)
2. Mineral fuels (HS 27) - $11.73B (13.13%)
3. Ores and slag (HS 26) - $8.73B (9.77%)
   These industries account for nearly 50% of total exports, indicating a concentrated export structure.

How to find Brazil Oil seeds suppliers?

You can access a list of active suppliers and exporters for Oil seeds (HS 12) using the yTrade database, which provides detailed shipment records and company contacts for verified Brazilian exporters.