Top Brazil Imports 2023 Q4: Market Insights

Brazil Import Portfolio Overview in 2023 Q4

• Mineral fuels and machinery/electrical goods dominate, capturing over 40% of total import value.
• Concentration risk is moderate: top three sectors represent 40.9% of imports, indicating reliance on energy and industrial inputs.
• This structure reflects Brazil’s role as an agro-industrial economy dependent on imported energy and capital goods to sustain production and infrastructure.

Table: Brazil Top Import Product in 2023 Q4 (Source: yTrade)

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Import Key Driver: Mineral Fuels and Oils

• Crude petroleum (HS 2709) is the second-largest component at $2.26B, indicating heavy reliance on raw energy imports.
• This is a raw material import, essential for fueling Brazil’s transport and industrial sectors.
• Brazil’s limited refining capacity and high domestic energy demand drive consistent imports despite being an oil producer.

Table: HS Code 27 Detailed Breakdown

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Import Key Driver: Nuclear Reactors and Machinery

• Turbojets and gas turbines (HS 8411) lead this category at $1.81B, highlighting needs in energy and aviation.
• Acts as a complement to fuel imports: machinery enables energy utilization and industrial operations.
• Strategic for maintaining and expanding Brazil’s industrial base and infrastructure modernization.

Table: HS Code 84 Detailed Breakdown

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Import Key Driver: Electrical Machinery and Equipment

• Integrated circuits (HS 8542) are the top product at $1.18B, critical for electronics and automotive sectors.
• Represents investment in technological inputs and intermediate goods for manufacturing.
• Signals growth in high-value industries and reliance on external tech supply chains for competitiveness.

Table: HS Code 85 Detailed Breakdown

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Frequently Asked Questions

What is Brazil's largest import commodity in 2023 Q4?

The largest import category is Mineral fuels, mineral oils and products of their distillation (HS 27), valued at $9.45B. This sector is primarily driven by imports of Petroleum oils and oils obtained from bituminous minerals, crude (HS 2710), which alone accounts for $4.79B (50.71%).

Which specific Mineral fuels products does Brazil import most in 2023 Q4?

Within the Mineral fuels sector, the top imports are:

1. Crude petroleum oil (HS 2710) - $4.79B (50.71%)
2. Petroleum oils (excluding crude) and preparations (HS 2709) - $2.26B (23.86%)
3. Coal; briquettes, ovoids, and similar solid fuels (HS 2701) - $1.00B (10.58%).

Does Brazil import Nuclear reactors and machinery in 2023 Q4?

Yes. Nuclear reactors, boilers, and machinery (HS 84) is the second-largest import sector, valued at $8.91B. The primary driver is Turbojets, turbopropellers, and other gas turbines (HS 8411), accounting for $1.81B (20.33%).

What are the main industries driving Brazil's economy?

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

1. Mineral fuels (HS 27) - $9.45B (15.28%)
2. Machinery & mechanical appliances (HS 84) - $8.91B (14.40%)
3. Electrical machinery (HS 85) - $6.92B (11.18%).

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.