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Brazil is the largest economy of Latin America and its trade with the EU accounts for 34,4% of the EU's total trade with the Latin American region (2013). As regards investments, Brazil holds 53% of the entire EU Investment stocks in Latin America (2012).

Trade picture

  • The EU is Brazil's first trading partner, accounting for 21.4% of its total trade and Brazil is the EU’s ninth trading partner, accounting for 2.1% of total EU trade (2013-2014). This shows the strength of our trade relationship.
  • EU imports from Brazil are dominated by primary products, in particular agricultural products (40.4%) and fuels and mining products (28.8%). But manufactured products such as machinery, transport equipment and miscellaneous manufactured products are also important: they represent around one fourth of Brazilian exports to the EU.
  • Brazil is the single biggest exporter of agricultural products to the EU.
  • EU's exports to Brazil consist mainly of manufactured products, such as machinery, transport equipment and chemicals. In goods, the EU historically runs an overall trade deficit with Brazil but in 2013 the EU recorded a trade surplus in goods (more than double the surplus registered in 2012). The EU also has a surplus in commercial services trade.
  • The EU is the biggest foreign investor in Brazil with investments in many sectors of the Brazilian economy. Around 50% of the FDI flows received by Brazil during the last 5 years originated in the EU.

EU-Brazil "trade in goods" statistics

Trade in goods 2012-2014, € billions
Year EU imports EU exports Balance
2012 37.4 39.7 2.3
2013 33.1 39.9 6.8
2014 31.1 36.9 5.8

EU-Brazil "trade in services" statistics

Trade in services 2011-2013, € billions
Year EU imports EU exports Balance
2011 6.5 11.6 5.1
2012 6.5 15.8 9.3
2013 6.3 14.8 8.5

Foreign direct investment

Foreign direct investment 2013, € billions
Year Inward stocks Outward stocks Balance
2013 58.2 272.2 214.0

More statistics on Brazil

EU and Brazil

The Brazilian market is relatively highly protected with an applied customs averaging tariff of 13.5%.

The EU therefore consistently encourages Brazil to reduce tariff and non-tariff barriers, and to maintain a stable regulatory environment for European investors and traders.

Brazil in Mercosur

Brazil is part of Mercosur and part of the EU's ongoing negotiations for a free trade agreement with that regional group.

A future EU-Mercosur Association Agreement – currently under negotiation – should provide a boost to regional trade integration among the countries of Mercosur and stimulate new opportunities for trade and investment with the EU by removing tariff and non-tariff barriers to trade and FDI.

The EU-Mercosur Association Agreement will cover, among other issues, trade in goods and services, investment, intellectual property rights (IPR) aspects including protection of geographical indications, government procurement, technical barriers to trade and sanitary and phyto-sanitary aspects.

More information on Mercosur

Trading with Brazil