Top Brazil Imports 2023 Q2: Market Shift

Brazil Import Portfolio Overview in 2023 Q2

• Mineral fuels (HS 27) and machinery (HS 84) dominate, accounting for 15.6% and 14.2% of total imports respectively.
• Moderate concentration risk: Top 3 sectors represent 41.9% of imports, reflecting Brazil’s reliance on energy inputs and capital goods for its resource and agro-industrial base.
• This structure underscores an economy dependent on imported energy and technology to sustain its agricultural and mining export engines.

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

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Import Key Driver: Mineral Fuels, Mineral Oils and Products

• Crude petroleum (HS 2709) is the primary driver within the sector, valued at $2.25B (22.9% of HS 27 imports).
• Product type: Raw material.
• Brazil’s deepwater pre-salt reserves require substantial imported light crude and intermediates for blending and refining, explaining persistent high import volumes despite domestic production.

Table: HS Code 27 Detailed Breakdown

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Import Key Driver: Nuclear Reactors, Boilers, Machinery

• Turbojets and gas turbines (HS 8411) lead this category at $1.61B (17.9% of HS 84 imports).
• Acts as a complement to fuel imports: essential for energy generation, oil/gas extraction, and processing infrastructure.
• Strategic for maintaining operational capacity in mining, agribusiness, and power sectors—core pillars of the Brazilian economy.

Table: HS Code 84 Detailed Breakdown

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Import Key Driver: Electrical Machinery and Equipment

• Semiconductor devices (HS 8541) and electronic integrated circuits (HS 8542) are nearly tied as top products, each around $1.2B.
• These are intermediate goods critical for industrial automation, automotive manufacturing, and consumer electronics assembly.
• Reflects growing integration into global tech supply chains and domestic demand for upgrading industrial and digital infrastructure.

Table: HS Code 85 Detailed Breakdown

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Frequently Asked Questions

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

The largest import category is Mineral fuels, mineral oils and products of their distillation (HS 27), valued at $9.85B. This sector is primarily driven by imports of Petroleum oils and oils obtained from bituminous minerals, crude (HS 2710), which alone accounts for $4.00B (40.58%).

Which specific Mineral fuels products does Brazil import most in 2023 Q2?

Within the Mineral fuels sector, the top imports are:

1. Crude petroleum oil (HS 2710) at $4.00B (40.58%).
2. Petroleum oils (excluding crude) (HS 2709) at $2.25B (22.85%).
   Together, these two products make up 63.43% of Brazil’s HS 27 imports.

Does Brazil import Nuclear reactors and machinery in 2023 Q2?

Yes. Nuclear reactors, boilers, and machinery (HS 84) is Brazil’s second-largest import sector, valued at $9.00B. The top product in this category is Turbojets, turbopropellers, and other gas turbines (HS 8411), worth $1.61B (17.91%).

What are the main industries driving Brazil's economy?

Brazil’s import economy is moderately concentrated, with the top 3 sectors being:

1. Mineral fuels (HS 27, $9.85B, 15.55%).
2. Machinery (HS 84, $9.00B, 14.20%).
3. Electrical machinery (HS 85, $7.69B, 12.14%).
   These three industries account for 41.89% of total imports.

How to find Brazil Mineral fuels buyers?

You can access a list of active overseas buyers and importers for Mineral fuels (HS 27) using the yTrade database, which provides detailed shipment records and company contacts.