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The United States engages with Brazil on trade and investment matters through a number of initiatives.
In 2011, the United States and Brazil signed the Agreement on Trade and Economic Cooperation to enhance cooperation on trade and investment between the Western Hemisphere's two largest economies. The agreement expands our direct trade and investment relationship by providing a framework to deepen cooperation on a number of issues of mutual concern, including innovation, trade facilitation and technical barriers to trade.
In 2016, Brazil GDP was an estimated $1.8 trillion (current market exchange rates); real GDP was down by an estimated 3.3%; and the population was 206 million. (Source: IMF)
U.S. goods and services trade with Brazil totaled an estimated $88.2 billion in 2016. Exports were $55.2 billion; imports were $33.0 billion. The U.S. goods and services trade surplus with Brazil was $22.3 billion in 2016.
Brazil is currently our 14th largest goods trading partner with $56.5 billion in total (two way) goods trade during 2016. Goods exports totaled $30.3 billion; goods imports totaled $26.2 billion. The U.S. goods trade surplus with Brazil was $4.1 billion in 2016.
Trade in services with Brazil (exports and imports) totaled an estimated $31.7 billion in 2016. Services exports were $24.9 billion; services imports were $6.8 billion. The U.S. services trade surplus with Brazil was $18.1 billion in 2016.
According to the Department of Commerce, U.S. exports of Goods and Services to Brazil supported an estimated 308 thousand jobs in 2015 (latest data available) (128 thousand supported by goods exports and 180 thousand supported by services exports).
- Brazil was the United States' 12th largest goods export market in 2016.
- U.S. goods exports to Brazil in 2016 were $30.3 billion, down 4.3% ($1.4 billion) from 2015 but up 60.4% from 2006. U.S. exports to Brazil account for 2.1% of overall U.S. exports in 2015.
- The top export categories (2-digit HS) in 2016 were: mineral fuels ($5.0 billion), aircraft ($4.8 billion), machinery ($3.6 billion), electrical machinery ($3.1 billion), and optical and medical instruments ($1.7 billion).
- U.S. total exports of agricultural products to Brazil totaled $899 million in 2016. Leading domestic export categories include: wheat ($316 million), prepared food ($54 million), dairy products ($47 million), cotton ($47 million), and feeds & fodders nesoi ($42 million).
- U.S. exports of services to Brazil were an estimated $24.9 billion in 2016, 11.4% ($3.2 billion) less than 2015, but 235% greater than 2006 levels. Leading services exports from the U.S. to Brazil, in 2015, were in the travel, transport, and telecommunications, computer, and information services sectors.
- Brazil was the United States' 17th largest supplier of goods imports in 2016.
- U.S. goods imports from Brazil totaled $26.2 billion in 2016, down 4.7% ($1.3 billion) from 2015, and down 0.7% from 2006. U.S. imports from Brazil account for 1.2% of overall U.S. imports in 2015.
- The top import categories (2-digit HS) in 2016 were: special other (returns) ($3.5 billion), aircraft ($3.3 billion), mineral fuels ($2.7 billion), iron and steel ($2.1 billion), and machinery ($1.6 billion).
- U.S. total imports of agricultural products from Brazil totaled $3.3 billion in 2016, our 6th largest supplier of agricultural imports. Leading categories include: coffee, unroasted ($1.1 billion), fruit & vegetable juices ($323 million), tobacco ($296 million), red meats, prep/pres ($288 million), and raw beet & cane sugar ($132 million).
- U.S. imports of services from Brazil were an estimated $6.8 billion in 2016, 13.3% ($1.0 billion) less than 2015, but 125% greater than 2006 levels. Leading services imports from Brazil to the U.S., in 2015, were in the maintenance and repair services, intellectual property (industrial processes), and professional and management services sectors.
- The U.S. goods trade surplus with Brazil was $4.1 billion in 2016, a 1.5% decrease ($61 million) over 2015.
- The United States has a services trade surplus of an estimated $18 billion with Brazil in 2016, down 10.7% from 2015.
- U.S. foreign direct investment (FDI) in Brazil (stock) was $65.3 billion in 2015 (latest data available), a 10.0% decrease from 2014. U.S. direct investment in Brazil is led by manufacturing, nonbank holding companies, and finance/insurance.
- Brazil's FDI in the United States (stock) was $431 million in 2015 (latest data available), down 70.1% from 2014. Brazil's direct investment in the U.S. is led by depository institutions, finance/insurance, and manufacturing.
- Sales of services in Brazil by majority U.S.-owned affiliates were $47.0 billion in 2014 (latest data available), while sales of services in the United States by majority Brazil-owned firms were $2.0 billion.