Top Brazil Exports 2024 Q4: Commodity Dominance

Brazil Export Portfolio Overview in 2024 Q4

• Mineral fuels (HS 27, 15.94%) and ores (HS 26, 10.14%) dominate, reflecting Brazil’s role as a global supplier of raw commodities.
• High concentration risk: top three sectors (fuels, ores, meat) account for over 34% of total exports, leaving the economy exposed to commodity price volatility.
• This structure reinforces Brazil’s identity as a resource-driven economy, leveraging vast natural endowments over industrial diversification.

Table: Brazil Top Export Product in 2024 Q4 (Source: yTrade)

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Key Driver: Mineral Fuels

• Crude petroleum oils (HS 2709) drive 78.75% of the sector’s value, a clear raw material export.
• Dominance stems from Brazil’s deepwater pre-salt reserves, advanced extraction technology, and competitive production costs, not just resource abundance.
• This sector anchors Brazil’s export revenue but ties fiscal health closely to global oil demand and pricing cycles.

Table: HS Code 27 Detailed Breakdown

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Key Driver: Ores

• Iron ores and concentrates (HS 2601) constitute 81.16% of the sector, another raw material bulk export.
• Acts as a complement to fuels, doubling down on Brazil’s extractive model, but also as a counterweight by diversifying within commodities.
• Strategic importance is high: Brazil is a top-tier iron ore supplier, critical for global steel production and Chinese industrial demand.

Table: HS Code 26 Detailed Breakdown

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Key Driver: Meat

• Bovine meat (HS 0202, 42.09%) and poultry meat (HS 0207, 35.05%) are the core products, representing finished goods from agro-processing.
• This sector shows value addition beyond pure extraction, leveraging Brazil’s scalable farmland, integrated supply chains, and sanitary reputation.
• Role is stable and legacy-driven: global demand for protein secures its place, but growth depends on trade agreements and disease-free status.

Table: HS Code 02 Detailed Breakdown

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Frequently Asked Questions

What is Brazil's largest export commodity in 2024 Q4?

The largest export category is Mineral fuels, mineral oils and products of their distillation (HS 27), valued at $13.08B. This sector is primarily driven by exports of Crude oil (HS 2709), which alone accounts for $10.30B (78.75%) of the total.

Which specific Mineral fuels products does Brazil export most in 2024 Q4?

Within the Mineral fuels sector, the top exports are Crude oil (HS 2709, $10.30B) and Petroleum oils (HS 2710, $2.63B), which together make up 98.83% of the industry's total export value.

Does Brazil export Ores, slag and ash in 2024 Q4?

Yes, Ores, slag and ash (HS 26) is Brazil’s second-largest export sector, valued at $8.32B. The dominant product is Iron ores and concentrates (HS 2601), contributing $6.75B (81.16%) of the total.

What are the main industries driving Brazil's economy?

Brazil’s economy is concentrated in Mineral fuels (HS 27, $13.08B), Ores (HS 26, $8.32B), and Meat (HS 02, $6.88B), which together account for 34.47% of total exports. The heavy reliance on crude oil and iron ore highlights a commodity-driven trade structure.

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 for verified exporters.