Brazil - United States Trade 2024 Whole Year: Deficit & Volatility
Key Market Takeaways: Brazil - United States Trade
The bilateral trade relationship between Brazil and United States shows mixed growth with high volatility in 2024.
- Economic Pulse: Brazil recorded a $2.25B trade deficit with the U.S., importing $43.17B (mostly machinery) while exporting $40.92B (dominated by fuels and steel). Volatility was pronounced, with double-digit swings in both directions.
- Exchange Structure: The trade follows a resource-for-tech model—Brazil supplies raw materials (mineral fuels, iron/steel) while the U.S. dominates high-value exports (machinery, pharmaceuticals). This reflects in Brazil - United States trade statistics.
- Strategic Interdependence: Complementary but asymmetric—the U.S. holds the value-add advantage, while Brazil’s export profile remains commodity-dependent.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Brazil-United States Trade Trend in Whole Year 2024
Brazil Export Performance: Shipments to United States
- Total Volume: $40.92B in 2024.
- Growth Trend & Context:
- YoY growth was mixed, with peaks in March (+20.43%) and November (+10.59%), but contractions in February (-22.39%) and April (-22.42%).
- No specific trade news or policy changes were reported to explain these fluctuations.
- Key Volatility: March saw the highest MoM surge (+44.8%), while February and April had sharp declines (-22.39% and -22.42%, respectively).
Brazil Import Performance: Sourcing from United States
- Total Volume: $43.17B in 2024.
- Growth Trend & Context:
- YoY performance varied, with September (+43.74%) and August (+17.94%) showing strong growth, but March (-17.94%) and February (-2.35%) lagged.
- Key Volatility: May had the highest MoM increase (+13.5%), while November saw the steepest drop (-16.51%).
Brazil - United States Trade Balance & Market Dynamics
- Net Position: Brazil recorded a trade deficit of $2.25B ($43.17B imports vs. $40.92B exports).
- Relationship Status: Brazil remains a net importer from the U.S., with imports outweighing exports, though trade volumes are relatively balanced.
Brazil Import Trend from United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 3.42B | 8.36% | 2.68% |
| Feb | 2.98B | -12.86% | -2.35% |
| Mar | 3.25B | 9.0% | -17.94% |
| Apr | 3.54B | 8.75% | 2.7% |
| May | 4.01B | 13.5% | 1.82% |
| Jun | 3.52B | -12.37% | 13.16% |
| Jul | 3.86B | 9.64% | 8.61% |
| Aug | 4.04B | 4.72% | 17.94% |
| Sep | 4.07B | 0.79% | 43.74% |
| Oct | 3.86B | -5.29% | 6.28% |
| Nov | 3.22B | -16.51% | 16.59% |
| Dec | 3.40B | 5.53% | 7.5% |
| Total | 43.17B | - | - |
Brazil Export Trend to United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 3.37B | -1.99% | 23.01% |
| Feb | 2.62B | -22.39% | 7.39% |
| Mar | 3.79B | 44.8% | 20.43% |
| Apr | 2.94B | -22.42% | 10.44% |
| May | 3.31B | 12.39% | 2.85% |
| Jun | 3.39B | 2.49% | 6.96% |
| Jul | 3.60B | 6.13% | 14.15% |
| Aug | 3.50B | -2.75% | 3.18% |
| Sep | 3.26B | -6.91% | 2.24% |
| Oct | 3.66B | 12.53% | 6.89% |
| Nov | 3.73B | 1.9% | 10.59% |
| Dec | 3.74B | 0.29% | 8.76% |
| Total | 40.92B | - | - |
Get Historical Brazil United States Trade Records
Brazil-United States Top Trading Products in Whole Year 2024
Brazil Export Profile: What Does Brazil Sell to United States
- Top Commodity: Rank #1 Export is HS 27 (Mineral Fuels, Oils) at 19.45% of total exports to the U.S.
- Demand Driver: The U.S. imports these for industrial processing, likely refining or energy production.
- Concentration: No single category dominates (>50%), but HS 27 and HS 72 (Iron & Steel) combined account for 33.44%, indicating moderate reliance on raw materials.
Brazil Import Profile: What Does Brazil Buy from United States
- Top Commodity: Rank #1 Import is HS 84 (Nuclear Reactors, Machinery) at 24.67% of total imports from the U.S.
- Dependency Nature: Critical technology dependency, as machinery and high-tech goods (HS 84, 85, 90) dominate the top imports.
Brazil - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Brazil supplies raw materials (fuels, iron/steel) while the U.S. exports high-value machinery and tech.
- Value Chain Position: The U.S. holds the higher value-add position, with complex exports (machinery, pharmaceuticals) versus Brazil’s commodity-heavy exports.
Import Analysis by Product: United States to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 10.65B | 24.67% |
| 27 | 10.26B | 23.76% |
| 39 | 3.00B | 6.96% |
| 30 | 2.38B | 5.52% |
| 29 | 2.08B | 4.82% |
| 90 | 2.01B | 4.65% |
| 88 | 1.99B | 4.61% |
| 38 | 1.75B | 4.06% |
| 85 | 1.75B | 4.04% |
| 87 | 1.21B | 2.81% |
Export Analysis by Product: Brazil to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 7.96B | 19.45% |
| 72 | 5.72B | 13.99% |
| 84 | 3.65B | 8.92% |
| 88 | 2.69B | 6.57% |
| 09 | 1.94B | 4.75% |
| 47 | 1.69B | 4.12% |
| 44 | 1.62B | 3.95% |
| 85 | 1.41B | 3.45% |
| 20 | 1.25B | 3.06% |
| 02 | 1.07B | 2.60% |
Check Detailed Brazil-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Brazil - United States trade relationship is poised for moderate growth in 2025, driven by sustained U.S. demand for Brazilian raw materials (fuels, iron/steel) and Brazil’s reliance on American high-tech machinery. However, volatility in monthly trade flows—evident in 2024’s sharp swings—suggests exporters and importers should brace for price fluctuations, particularly in commodities. The trade deficit is likely to persist unless Brazil diversifies its export basket or secures more favorable terms for value-added goods.
Strategic Moves
- Lock in Long-Term Supply Contracts: Brazilian fuel and steel exporters should negotiate multi-year agreements with U.S. buyers to mitigate price volatility and ensure stable revenue streams.
- Diversify Import Sources: Brazilian firms dependent on U.S. machinery (HS 84) should explore alternative suppliers in Europe or Asia to reduce over-reliance and improve bargaining power.
- Invest in Value-Added Exports: Brazil must prioritize upgrading its industrial base to produce higher-margin goods (e.g., processed fuels, advanced machinery components) and shift away from raw material dependency.
Frequently Asked Questions
How did Brazil - United States trade perform in 2024 Whole Year?
Brazil exported $40.92B to the U.S. and imported $43.17B, with mixed YoY growth and volatility in monthly trade volumes.
What are the top exports from Brazil to United States?
The top exports are HS 27 (Mineral Fuels, Oils) and HS 72 (Iron & Steel), accounting for 33.44% of total exports.
What does Brazil import from United States?
The top imports are HS 84 (Nuclear Reactors, Machinery), along with other high-tech goods like HS 85 and HS 90.
What is the trade balance between Brazil and United States?
Brazil recorded a trade deficit of $2.25B with the U.S., remaining a net importer in 2024.
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