Key Economic Trends
- U.S. exports to Brazil decreased by $6.9 billion (24 percent) to $22.1 billion, while U.S. imports decreased by $10.4 billion (35 percent) to $19.6 billion. The fall in value of merchandise trade between the United States and Brazil in 2009 reflects reduced demand for merchandise goods and declines in commodity prices in both countries.
- The decline in U.S. imports from Brazil exceeded the decline in U.S. exports to Brazil, particularly in the energy-related products and minerals and metals sectors. The U.S. went from having $1.0 billion deficit with Brazil in 2008 to having a $2.5 billion surplus with Brazil in 2009.
- In 2009, the industry/commodity groups contributing the most to the $6.9 billion (24 percent) decrease in U.S. exports to Brazil were aircraft engines and gas turbines; petroleum products; various organic chemicals and fertilizers; and rail locomotive and rolling stock. Collectively, these industry/commodity groups represented 49 percent ($3.3 billion) of the total decrease in U.S. exports to Brazil in 2009.
- During 2008-09, the energy-related products, transportation equipment, and minerals and metals sectors accounted for the largest shifts in U.S. imports. These product groups together accounted for 54 percent of the total decrease in U.S. imports ($10.4 billion) from Brazil in 2009.
Trade Shifts from 2008 to 2009
- U.S. trade balance: Increased by $3.6 billion, from a $1.0 billion deficit to a $2.5 billion surplus
- U.S. exports: Decreased by $6.9 billion (24 percent) to $22.1 billion
- U.S. imports: Decreased by $10.4 billion (35 percent) to $19.6 billion