EU27 trade in goods with Brazil reached a peak in the first six months of 2011

EU – Brazil Summit
EU27 trade in goods with Brazil reached a peak in the first six months of 2011
Significant investment flows between Brazil and the EU27

After increasing steadily between 2003 and 2008, EU27 exports of goods to Brazil dropped to 21.6 billion euro in 2009, then recovered to reach a peak of 31.3 bn in 2010. After growing between 2002 and 2008, imports rose from 25.7 bn in 2009 to 32.4 bn in 2010, but remained below the level of 35.9 bn recorded in 2008. After peaking at 11.3 bn in 2007, the EU27 deficit in trade in goods with Brazil fell steadily to 1.1 bn in 2010.

The first half of 2011 showed a continued growth in EU27 trade with Brazil. Exports rose from 14.8 bn in the first six month of 2010 to 16.9 bn in the first half of 2011, and imports from 14.9 bn to 18.5 bn. As a result, the EU27 deficit in trade of goods with Brazil increased from 0.1 bn in the first half of 2010 to 1.6 bn in the same period of 2011. Brazil accounted for just over 2% of the EU27‘s external trade in goods, and was the EU27‘s ninth most important trading partner in the first six months of 2011.

On the occasion of the fifth European UnionBrazil summit, which will take place on 4 October 2011 in Brussels, Eurostat, the statistical office of the European Union, issues data on trade and investments between Brazil and the EU.

Germany, one third of EU27 exports to Brazil and one fifth of imports

Among the EU27 Member States, Germany (5.4 bn euro or 32% of EU exports of goods) was by far the largest exporter to Brazil in the first half of 2011, followed by Italy (2.3 bn or 14%), France (1.9 bn or 11%) and Spain
(1.4 bn or 8%). The Netherlands1 (4.5 bn or 24% of EU imports) was the largest importer, followed by Germany (3.6 bn or 19%), Italy (2.1 bn or 11%), Spain and France (both 1.7 bn or 9%).

The largest surpluses in trade with Brazil in the first half of 2011 were observed in Germany (+1.9 bn euro), followed by Sweden (+0.4 bn) and Austria (+0.3 bn), and the largest deficits in the Netherlands1 (-3.6 bn euro), Portugal (-0.4 bn) and Spain (-0.3 bn).

Around 90% of EU27 exports to Brazil in the first half of 2011 were manufactured goods, while for imports raw materials2 accounted for a just over a third of the total and food & drink for just below a third. At the detailed level, the main EU27 exports to Brazil were motor vehicles & parts, medicine and aircraft & parts, while the main imports were iron ore, coffee, oilcake, soya beans, wood pulp and crude oil.