Brazil
Investment
Increasingly important is the flow of investment between the United States and Brazil. The U.S. is one of Brazil's top investors, U.S. foreign direct investment (FDI) in Brazil (stock) was $56.7 billion in 2009 (latest data available), up 27.3% from 2008. Brazil FDI in the United States (stock) was not available in 2009.
Sales of services in Brazil by majority U.S.-owned affiliates were $24.1 billion in 2008 (latest data available), while sales of services in the United States by majority Brazil-owned firms were $1.1 billion.
Initiatives
The United States engages with Brazil on trade and investment matters through a number of initiatives.
On March 19, 2011, President Obama and Presiden Rousseff 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 will expand our direct trade and investment relationship by providing a frameworkto deepen cooperation on a number of issues of mutual concern, including innovation, trade facilitation and technical barriers to trade. The agreement represents a shared commitment to broad-based economic growth, and will become a foundation for cooperatoin in other trade fora.
U.S.-Brazil Trade Facts
U.S. goods and services trade with Brazil totaled $64 billion in 2009 (latest data available for goods and services trade combined). Exports totaled $39 billion; Imports totaled $25 billion. The U.S. goods and services trade surplus with Brazil was $14 billion in 2009.
Brazil is currently our 10th largest goods trading partner with $59 billion in total (two ways) goods trade during 2010. Goods exports totaled $35 billion; Goods imports totaled $24 billion. The U.S. surplus with Brazil was $11 billion in 2010.
Trade in services with Brazil (exports and imports) totaled $17.5 billion in 2009 (latest data available for services). Services exports were $12.7 billion; Services imports were $4.8 billion. The U.S. services trade surplus with Brazil was $7.8 billion in 2009.
Exports
Brazil was the United States' 8th largest goods export market in 2010.
U.S. goods exports to Brazil in 2010 were $35.4 billion, up 35.5% ($9.3 billion) from 2009, and up 336% from 1994 (the year prior to Uruguay Round). U.S. exports to Brazil accounted for 2.8% of overall U.S. exports in 2010.
The top export categories (2-digit HS) in 2010 were: Machinery ($7.2 billion), Aircraft ($4.4 billion), Electrical Machinery ($4.3 billion), Mineral Fuel ($4.2 billion), and Organic Chemicals ($2.0 billion).
U.S. exports of agricultural products to Brazil totaled $575 million in 2010. Leading categories include: wheat ($112 million), cotton ($47 million), dairy products ($39 million), and sugars and sweeteners ($28 million).
U.S. exports of private commercial services* (i.e., excluding military and government) to Brazil were $12.7 billion in 2009 (latest data available) , 5.9% ($701 million) more than 2008 and 240% greater than 1994 levels. Other private services (business, professional, and technical services, telecom services, and financial services) and travel categories accounted for most of the U.S. exports in 2009.
Imports
Brazil was the United States' 18th largest supplier of goods imports in 2010.
U.S. goods imports from Brazil totaled $23.9 billion in 2010, a 19.2% increase ($3.8 billion) from 2009, and up 175% over the last 16 years. U.S. imports from Brazil accounted for 1.3% of overall U.S. imports in 2010.
The five largest import categories in 2010 were: Mineral Fuel and Oil (crude) ($7.9 billion), Machinery ($1.7 billion), Iron and Steel ($1.4 billion), Spices, Tea, and Coffee (coffee) ($1.1 billion), and Wood Pulp ($948 million).
U.S. imports of agricultural products from Brazil totaled $2.9 billion in 2010, the 5th largest supplier of Ag imports. Leading categories include: coffee (unroasted) ($1.1 billion), tobacco ($310 million), fruit and vegetable juices ($278 million), and raw beet and sugar cane ($221 million).
U.S. imports of private commercial services* (i.e., excluding military and government) were $4.8 billion in 2009 (latest data available), 0.1% ($5 million) more than 2008 and up 428% from 1994 level. The other private services category (business, professional, and technical services) led U.S. services imports from Brazil.
Trade Balance
The U.S. surplus with Brazil was $11.4 billion in 2010, up 90% ($5.4 billion) from 2009.
The United States has a services trade surplus of $7.8 billion with Brazil in 2009 (latest data available), up 10% from 2008.
*NOTE: Refers to private services trade not including U.S. Military sales, direct defense expenditures, and other miscellaneous U.S. Government services.