Iron ore is Brazil's most imported and exported item. About $43 billion of iron ore is exported annually, while another $8 billion is imported. Crude petroleum, soybeans, raw sugar and coffee are the next most-exported goods, respectively; poultry meat, refined petroleum, cars and crude petroleum are the next most-imported goods. In 2010, Brazil reported an estimated value of $199.7 billion in exports and $187.7 billion in imports.Continue Reading
Seventeen percent of Brazil's exports are to China, making that country Brazil's largest consumer of exported goods. The United States ranks second at 11 percent. At 20 percent, Argentina is the source of most of Brazil's imports. The United States is again second, producing 9 percent of Brazil's imported goods.
Brazil is part of a economic agreement known as Mercosur or Mercosul, which includes the countries Brazil, Argentina, Paraguay, Uruguay, Israel and Egypt and encourages easy travel and trade between these nations.
In 2010, 60 percent of Brazil's exports were manufactured or semi-manufactured. These figures were noticeably smaller in 2009. Brazil is the world's fifth largest country and makes up nearly half the size of South America. Brazil also has the fifth highest population of the world, estimated at around 185 million occupants as of 2010.Learn more about South America