Exporting to Brazil
Major economic force
Brazil is the largest economy in South America. Brazil has a strong business base and modern banking system, with the presence of the world’s largest banks. Brazil’s GDP is set to grow around 2.1% in 2019.
Expanding consumer market
Brazilians are early adopters, with 59% of the population showing interest in technology developments. Brazilian consumers are shopping online more and more, with every category showing consistent growth in the last few years.
The environment for exporters should improve under the new government of Jair Bolsonaro, whose priorities include improving Brazil’s business environment and reducing barriers to trade.
Opportunities for exporters
In 2018, UK total exports to Brazil improved by 2.7%, reaching £3.2 billion (up from £3.1 billion in 2017). Goods exports represented 66% of the total UK exports to Brazil in 2018.