EU28 exports to Brazil in 2012 amounted to 39.7 billion euro and imports to 37.4 bn. The EU28 registered a continuous deficit in trade in goods with Brazil up to 2011, with a peak in 2007, turning to a surplus of 2.3 bn in 2012. The first nine months of 2013 confirm the most recent trend, with EU28 exports to Brazil continuing to increase, from 29.6 bn euro in the first nine months of 2012 to 30.4 bn in the same period of 2013, while imports continued to fall, from 28.8 bn to 24.9 bn over the same period. As a result, the EU28 surplus in trade of goods with Brazil of 0.8bn in the first nine months of 2012 increased significantly to 5.5 bn in the same period of 2013.
EU28 exports to Brazil increased steadily between 2003 and 2008, before falling in line with the general effects of the financial crisis on EU trade in 2009, and then recovered very strongly to reach new record levels in 2010, 2011 and 2012. Imports also increased steadily until 2008 and then fell sharply, with a recovery afterwards, peaking in 2011 and then falling in 2012.
Among the EU28 Member States, Germany (8.7 bn euro or 29% of EU exports of goods) was by far the largest exporter to Brazil in the first nine months of 2013, followed by France (4.1 bn or 13%), Italy (3.7 bn or 12%), Spain (2.8 bn or 9%), Belgium (2.4 bn or 8%) and the United Kingdom (2.3 bn or 8%). The Netherlands1 (6.3 bn or 25% of EU imports) was the largest importer, followed by Germany (4.1 bn or 17%), the United Kingdom and Spain (both 2.5 bn or 10%), Italy (2.4 bn or 10%) and France (2.2 bn or 9%).
The largest surpluses in trade with Brazil in the first nine months of 2013 were observed in Germany (+4.6 bn euro), France (+1.9 bn) and Italy (+1.3 bn), and the largest deficit in the Netherlands1 (-4.5 bn). In the first nine months of 2013, 86% of EU28 exports to Brazil were manufactured goods, while for imports primary goods accounted for 68% of EU28 imports from Brazil. Brazil accounted for just over 2% of the EU28‘s international trade in goods, and was amongst the EU28‘s ten most important trading partners in the first nine months of 2013.
Similarly to the trend seen for trade in goods, EU28 exports of services to Brazil increased between 2011 and 2012 (+17%), while imports decreased (-2%). In 2012, the EU28 exported 13.5 bn euro of services to Brazil, while imports amounted to 6.4 bn, meaning that the EU28 had a surplus of 7.1 bn in trade in services with Brazil, compared with +5.1 bn in 2011 and +4.3 bn in 2010. The EU28 had a surplus for all categories of services in 2012, in particular for travel (+2.0 bn), transportation (+1.8 bn) and royalties & license fees (+1.2 bn). Brazil accounted for a little less than 2% of total extra-EU28 trade in services.
EU28 still net investor in Brazil
EU28 Foreign Direct Investment (FDI) flows to Brazil are significantly higher than FDI flows from Brazil to the EU28. In 2012, the EU28 invested 22.4 bn euro in Brazil, compared with 30.4 bn in 2011, 44.5 bn in 2010 and 12.4 bn in 2009, while Brazil invested 2.2 bn in the EU28 in 2012, compared with 13.0 bn in 2011, 9.9 bn in 2010 and 1.2 bn in 2009 (Full report).