Doing business in Brazil can be challenging, particularly because of issues like taxing, customs bureaucracy, and poor infrastructure in some parts of the country. However, there are great opportunities for companies in all industries.
Brazil has a diverse and sophisticated manufacturing sector, as well as a large population – over 205 million people. It is a global economic force, ranked as the eighth-largest economy in the world by GDP [1]. Therefore, it is a huge market that definitely deserves attention.
Brazil’s major imports [2] include:
Manufactured goods represent about 85% of Brazil’s imports, while raw materials—especially crude oil, coal, natural gas, and wheat grain—account for about 10% of it [3].
When it comes to imports, its main partners are China (19%), the US (16%), Argentina, and Germany (6% each), followed by South Korea, Mexico, Italy, Japan, France, India, and Chile.
Some of the fastest-growing industries are electronics, ships and boats, organic chemicals, and mineral fuels.
If your company intends to do business in Brazil, you should also consider the language barrier, which is often neglected. By choosing the right approach, you will increase the chances of success of your business. Partner up with MRC Translations and localize your content. You will be a step ahead of your competitors.
Brazil has a diverse and sophisticated manufacturing sector, as well as a large population – over 205 million people. It is a global economic force, ranked as the eighth-largest economy in the world by GDP [1]. Therefore, it is a huge market that definitely deserves attention.
Brazil’s major imports [2] include:
- Refined and Crude Petroleum (10.1%)
- Vehicle Parts (3.6%)
- Cars and Trucks (3.5%)
- Integrated Circuits (2.2%)
- Medicaments (2.2%)
- Human or Animal Blood (2.0%)
- Petroleum Gas (1.8%)
- Pesticides (1.8%)
- Fertilizers (Mixed Mineral or Chemical Fertilizers, Potassic Fertilizers, and Nitrogenous Fertilizers) (4.6%)
- Telephones (1.5%)
Manufactured goods represent about 85% of Brazil’s imports, while raw materials—especially crude oil, coal, natural gas, and wheat grain—account for about 10% of it [3].
When it comes to imports, its main partners are China (19%), the US (16%), Argentina, and Germany (6% each), followed by South Korea, Mexico, Italy, Japan, France, India, and Chile.
Some of the fastest-growing industries are electronics, ships and boats, organic chemicals, and mineral fuels.
If your company intends to do business in Brazil, you should also consider the language barrier, which is often neglected. By choosing the right approach, you will increase the chances of success of your business. Partner up with MRC Translations and localize your content. You will be a step ahead of your competitors.
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References
- Investopedia. The World's Top 20 Economies. www.investopedia.com/insights/worlds-top-economies/. Retrieved on 2019-03-28.
- The Observatory of Economic Complexity. https://atlas.media.mit.edu/en/visualize/tree_map/hs92/import/bra/all/show/2017/. Retrieved on 2019-04-04.
- World’s Richest Countries. http://www.worldsrichestcountries.com/top-brazil-imports.html. Retrieved on 2019-04-04.
- World’s Top Exports. http://www.worldstopexports.com/brazils-top-10-imports/. Retrieved on 2019-04-04.
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