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Brazil

The EU is negotiating a free trade agreement with Brazil as part of the EU's Association Agreement negotiations with the Mercosur countries (which also include Argentina, Uruguay and Paraguay).

Brazil is the largest economy of Latin America and its trade with the EU accounts for 30.8% of the EU's total trade with the Latin America region in 2016.

Trade picture

  • The EU is Brazil's first trading partner, accounting for 19.6%% of its total trade, and Brazil is the EU’s eleventh trading partner, accounting for 1.7% of total EU trade (2016).
  • EU imports from Brazil are dominated by primary products, in particular foodstuffs, beverages and tobacco products (18.2% of EU imports from Brazil), followed by vegetable products (17.9%) and mineral products (16.3%).
  • Brazil is the single biggest exporter of agricultural products to the EU worldwide.
  • EU's exports to Brazil consist mainly of machinery and appliances (25.7%), chemical products (24.4%), and transport equipment (18.1%).
  • The EU is the biggest foreign investor in Brazil with investments in many sectors of the Brazilian economy. The EU had 48.5% of its Latin American investments in Brazil in 2015.

EU-Brazil: Trade in goods

Trade in goods 2014-2016, € billions
Year EU imports EU exports Balance
2014 31.2 36.9 5.7
2015 31.2 34.5 3.4
2016 29.3 30.9 1.6

EU-Brazil: Trade in services

Trade in services 2013-2015, € billions
Year EU imports EU exports Balance
2013 6.4 15.1 8.7
2014 7.4 15.2 7.9
2015 8.7 15.6 6.9

EU-Brazil: Foreign direct investment

Foreign direct investment 2015, € billions
Year Inward stocks Outward stocks Balance
2015 127.4 327.1 199.7

Date of retrieval: 15/02/2017

More statistics on Brazil

EU and Brazil

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

The EU encourages Brazil to reduce tariff and non-tariff barriers, and to promote a stable and more open regulatory environment for European investors and traders.

Brazil in Mercosur

Brazil is negotiating with the EU on a free trade agreement as part of the Mercosur group.

A future EU-Mercosur Association Agreement should boost trade integration among the Mercosur countries and create 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 according to a 2008 sustainability impact assessment, even though Mercosur remains 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
  • sanitary and phytosanitary aspects

More information on Mercosur

Trading with Brazil