Brazilian Trade in 2021

According to figures from ApexBrasil, the Brazilian Trade and Investment Promotion Agency, Brazil’s exports to the UK rose by 21% to hit £2.2bn by the end of 2021. The exports are Brazil’s highest by value to the UK since 2014, and contributed to Brazil registering a record global trade surplus in 2021 of £44.4bn.

In the food and drink sector, Brazilian fruit exports to the UK grew by 15% with strong demand for tropical varieties and superfruits such as mangos, papayas, peaches, nectarines, and berries. Taking advantage of post-Brexit trade between Brazil and the UK, sugar and ethanol exports surged by 67% to hit €122.6m / £105.5m, the result of a new sugar import quota agreed by the UK government which allows for higher volumes of tariff-free sugarcane from Brazil.

Exports to the European Union rose by 32% in 2021 to reach €30.8bn / £26.5bn, the highest since 2013. The total value of goods exported by Brazil in 2021 totalled €236.8bn / £203.7bn, a rise of 32% on 2020 values, and an all-time high for the country.

In the other direction Brazilian imports of UK goods rose by just 9% to £1.8bn in total for 2021, with particularly high demand in Brazil for oil and gas products (5,530% increase in value to reach £41.5m), British spirits (105% increase to £15.8m), chemicals (54% increase to £37.2m), and transport equipment (35% increase to £15.3m). Imports from the EU totalled €32.4bn / £27.8bn, a rise of 26% on 2020 levels. Brazilian demand was strongest for EU oil and petroleum products, pharmaceuticals and chemicals

Trade between Brazil and UK bounces back

According to the latest numbers released by Apex-Brasil, Brazilian exports to, and imports from, the UK have bounced back strongly to pre-pandemic levels in the second quarter of 2021.

The total value of Brazilian exports to the UK increased by 41% year on year, which is 5% more than exported in the same period of 2019. Similarly, Brazilian imports of UK goods soared by 52% in Q2 2021, up 29% on Q2 2019 and the highest value since 2015. This equates to bilateral trade between Brazil and the UK reaching US$1.4bn (£1bn) between Brazil and the UK, a 46% increase on Q2 2020 and 15% above Q2 2019 levels.  

Part of the increase is due to an upsurge in commodity prices, such as metal ores, oil and soy as well as export growth in transport equipment, chemicals and metallurgical products.

Brazil also recorded a large trade surplus with the EU of $911m (€756m, £652.1m), the highest for a quarter since 2011. This is a turnaround on the deficit of $1.4bn (€1.1bn, £1bn) Brazil had with the EU in Q1 2021.