Top Brazil Exports 2024 Q2: Commodity Dominance

Brazil Export Portfolio Overview in 2024 Q2

• Dominated by agricultural and extractive sectors: oilseeds (HS 12, 20.5%) and mineral fuels (HS 27, 18.35%) lead, with ores (HS 26, 9.67%) a distant third.
• Concentration risk is high: top three sectors account for nearly half of total export value, exposing Brazil to commodity price volatility.
• Reinforces Brazil’s role as a global supplier of raw materials, with limited diversification into high-value manufactured goods.

Table: Brazil Top Export Product in 2024 Q2 (Source: yTrade)

Get Complete Brazil Export HS Code Breakdown

Key Driver: Oil seeds and oleaginous fruits

• Driven overwhelmingly by soybeans (HS 1201, 99.34% of sector value), a bulk agricultural commodity.
• Reflects Brazil’s comparative advantage in large-scale, resource-intensive agriculture, supported by abundant land and favorable climate.
• Position makes Brazil a critical node in global food and feed supply chains, especially for China and Southeast Asia.

Table: HS Code 12 Detailed Breakdown

Get Complete Brazil Export HS Code Breakdown

Key Driver: Mineral fuels, mineral oils and products

• Primarily crude petroleum oils (HS 2709, 79.34%), supplemented by refined products (HS 2710, 19.93%).
• Acts as a complement to agricultural exports, diversifying revenue streams but still within the extractive sector.
• Strategic for energy security and trade balance, though exposed to OPEC+ policies and global oil demand cycles.

Table: HS Code 27 Detailed Breakdown

Get Complete Brazil Export HS Code Breakdown

Key Driver: Ores, slag and ash

• Dominated by iron ore and concentrates (HS 2601, 85.13%), a key steelmaking input.
• Represents a stable, legacy export underpinned by vast mineral reserves and established logistics to China.
• Less volatile than energy but still tied to industrial cycles, highlighting Brazil’s role as a quarry for global manufacturing.

Table: HS Code 26 Detailed Breakdown

Access Brazil Complete Export Profile

Frequently Asked Questions

What is Brazil's largest export commodity in 2024 Q2?

The largest export category is Oil seeds and oleaginous fruits (HS 12), valued at $18.30B. This sector is primarily driven by exports of Soya beans (HS 1201), which account for 99.34% of the sector's total value.

Which specific Oil seeds and oleaginous fruits products does Brazil export most in 2024 Q2?

Within the Oil seeds and oleaginous fruits sector, the top exports are Soya beans (HS 1201), which dominate with $18.18B, followed by Groundnuts (HS 1202) at $79.40M and Seeds for sowing (HS 1209) at $21.91M.

Does Brazil export Mineral fuels, mineral oils in 2024 Q2?

Yes. Mineral fuels, mineral oils (HS 27) is Brazil’s second-largest export sector, valued at $16.37B. The primary product is Petroleum oils (HS 2709), contributing 79.34% ($12.99B) of the sector’s total exports.

What are the main industries driving Brazil's economy?

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

1. Oil seeds and oleaginous fruits (HS 12) - $18.30B
2. Mineral fuels, mineral oils (HS 27) - $16.37B
3. Ores, slag and ash (HS 26) - $8.63B
   Together, these sectors account for 48.52% of Brazil’s total exports.

How to find Brazil Oil seeds and oleaginous fruits suppliers?

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