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Brazil

Brazil

Brazil is the largest economy of Latin America and its trade with the EU accounts for 33.6% of the EU's total trade with the region (2014).

As regards investments, Brazil holds 55% of the entire EU Investment stocks in Latin America (2013).

Trade picture

  • The EU is Brazil's first trading partner, accounting for 19.5% of its total trade, and Brazil is the EU’s tenth trading partner, accounting for 2.0% of total EU trade (2014). This shows the strength of our bilateral trade relationship.
  • EU imports from Brazil are dominated by primary products, in particular agricultural products (48.0%) and fuels and mining products (24.8%). But manufactured products such as machinery, transport equipment and miscellaneous manufactured products are also important: they represent around one fourth of EU imports from Brazil.
  • Brazil is the single biggest exporter of agricultural products to the EU worldwide.
  • EU's exports to Brazil consist mainly of manufactured products, such as machinery, transport equipment and chemicals. In terms of trade in goods, the EU historically runs an overall trade deficit with Brazil but in 2014 the EU recorded a trade surplus in goods. The EU also has a surplus in 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 between 2008 and 2012 originated in the EU.

EU-Brazil "trade in goods" statistics

Trade in goods 2013-2015, € billions
Year EU imports EU exports Balance
2013 33.3 39.9 6.6
2014 31.2 36.9 5.7
2015 31.1 34.6 3.5

EU-Brazil "trade in services" statistics

Trade in services 2012-2014, € billions
Year EU imports EU exports Balance
2012 6.6 15.5 8.9
2013 6.4 14.9 8.5
2014 7.5 15.0 7.5

Foreign direct investment

Foreign direct investment 2014, € billions
Year Inward stocks Outward stocks Balance
2014 113.6 343.6 230.0

Date of retrieval: 14/04/2016

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 foster a stable and more open regulatory environment for European investors and traders.

Brazil in Mercosur

Brazil is part of Mercosur and therefore participates in 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 potential economic impact is high, also taking into consideration Mercosur maintains a highly protected market.

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