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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 2017, Brazil GDP was an estimated $2.1 trillion (current market exchange rates); real GDP was up by an estimated 1.0%; and the population was 208 million. (Source: IMF)
U.S. goods and services trade with Brazil totaled an estimated $103.9 billion in 2018. Exports were $66.4 billion; imports were $37.5 billion. The U.S. goods and services trade surplus with Brazil was $28.9 billion in 2018.
Brazil is currently our 13th largest goods trading partner with $70.7 billion in total (two way) goods trade during 2018 Goods exports totaled $39.5 billion; goods imports totaled $31.2 billion. The U.S. goods trade surplus with Brazil was $8.3 billion in 2018.
Trade in services with Brazil (exports and imports) totaled an estimated $33.2 billion in 2018. Services exports were $26.9 billion; services imports were $6.3 billion. The U.S. services trade surplus with Brazil was $20.6 billion in 2018.
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' 9th largest goods export market in 2018.
- U.S. goods exports to Brazil in 2018 were $39.5 billion, up 6.1% ($2.3 billion) from 2017 and up 22.3% from 2008. U.S. exports to Brazil account for 2.4% of overall U.S. exports in 2018.
- The top export categories (2-digit HS) in 2018 were: mineral fuels ($9.5 billion), aircraft ($6.1 billion), machinery ($4.3 billion), electrical machinery ($3.4 billion), and plastics ($1.9 billion).
- U.S. total exports of agricultural products to Brazil totaled $630 million in 2018. Leading domestic export categories include: wheat ($63 million), prepared food ($39 million), chocolate & cocoa products ($36 million), other feeds & fodders ($34 million), and eggs & products ($32 million).
- U.S. exports of services to Brazil were an estimated $26.9 billion in 2018, 1.7% ($461 million) more than 2017, and 110% greater than 2008 levels. Leading services exports from the U.S. to Brazil were in the travel, transport, and telecommunications, computer, and information services sectors.
- Brazil was the United States' 17th largest supplier of goods imports in 2018.
- U.S. goods imports from Brazil totaled $31.2 billion in 2018, up 5.8% ($1.7 billion) from 2017, and up 2.3% from 2008. U.S. imports from Brazil account for 1.2% of overall U.S. imports in 2018.
- The top import categories (2-digit HS) in 2018 were: mineral fuels ($5.2 billion), special other (returns) ($3.5 billion), iron and steel ($3.1 billion), aircraft ($2.2 billion), and machinery ($2.1 billion).
- U.S. total imports of agricultural products from Brazil totaled $3.3 billion in 2018, our 10th largest supplier of agricultural imports. Leading categories include: coffee, unroasted ($934 million), fruit & vegetable juices ($504 million), red meats, prep/pres ($281 million), tobacco ($211 million), and essential oils ($145 million).
- U.S. imports of services from Brazil were an estimated $6.3 billion in 2018, 12.4% ($896 million) less than 2017, but 39.8% greater than 2008 levels. Leading services imports from Brazil to the U.S. were in the professional and management services, travel, and research and development sectors.
- The U.S. goods trade surplus with Brazil was $8.3 billion in 2018, a 7.2% increase ($563 million) over 2017.
- The United States has a services trade surplus of an estimated $21 billion with Brazil in 2018, up 7.1% from 2017.
- U.S. foreign direct investment (FDI) in Brazil (stock) was $68.3 billion in 2017, a 2.8% increase from 2016. U.S. direct investment in Brazil is led by manufacturing, finance and insurance, and mining.
- No data on Brazil's FDI in the U.S. are available. Brazil's direct investment in the U.S. is led by depository institutions, finance and insurance, and manufacturing.
- Sales of services in Brazil by majority U.S.-owned affiliates were $42.2 billion in 2015 (latest data available), while sales of services in the United States by majority Brazil-owned firms were $1.8 billion.