While Brazil exports machinery, aircraft parts, and raw iron and steel, the largest portion of the country’s annual export income comes from oil and fuels. In fact, Brazil produces so much petroleum that it is self-sufficient. Additionally, Brazil exports significant amounts of coffee, coarse grains, fruit juices, vegetable juices, poultry, sugar cane and tobacco.
Partially because of these numerous exports, Brazil is the world’s seventh-largest economy as of 2014. Because of its rapid growth rate of approximately 5 percent annually, many economists predict that Brazil is likely to become one of the five largest economies in the world. The country’s financial markets are free and modern, which is supporting the country’s rapid economic growth.
In part because of Brazil’s large size, numerous natural resources are found within its borders. Additionally, because of its tropical and subtropical location, plentiful water, and ample labor pool, Brazil is uniquely suited to produce a high number of agricultural products. However, as many of the country’s raw materials come from the rugged interior, transportation of the materials within the country is sometimes problematic.
China, the United States, Argentina, the Netherlands and Germany are the five most important export partners of Brazil. Brazil imports goods from China, the United States, Argentina, Chile, Germany, India and Japan.