That dollar amount reflects a 65.3% acceleration compared to $158.8 billion five years earlier during 2020.
Year over year, the overall cost of goods imported into Brazil grew by 9% from $240.8 billion in 2023.
Based on the average exchange rate for 2024, the Brazilian real has depreciated by -6.8% against the US dollar from 2023 to 2024. Brazil’s weaker local currency made Brazilian imports paid for in stronger US dollars relatively more expensive when converted starting from the Brazilian real.
Domestically, Brazil’s inflation rate for average consumer prices increased by 4.272% from 2023 to 2024 down from average inflation of 4.594% for the prior year.
Brazil spends the most on imported products led by processed petroleum oils, crude oil, turbo-jets, cars then automobile parts or accessories. Those 5 leading products approached one-fifth (18.6%) of Brazil’s total imports by spending in 2024.
Given Brazil’s population of 212.5 million people, its total $262.5 billion in 2024 imported goods translates to roughly $1,200 in yearly product demand from every person in the South American nation. That per-capita amount exceeds the average $1,100 for 2023.
Brazil’s Best International Trade Suppliers
The latest available country-specific data shows that 70.1% of products imported from Brazil was furnished by exporters in: mainland China (24.2% of the Brazilian total), United States of America (15.7%), Germany (5.2%), Argentina (5.2%), Russia (4.2%), India (2.6%), Italy (2.43%), France (2.35%), Mexico (2.2%), Japan (2.1%), South Korea (2%) and Chile (1.9%).
Applying a continental lens, 40.1% of Brazil’s total imports by value in 2024 was sourced from Asian countries. Trade partners in Europe supplied 24.9% of imports sold to Brazil while another 19% was provided by exporters in North America.
Fellow Latin America nations plus the Caribbean but excluding Mexico furnished 12.2% worth.
Smaller percentages came from suppliers in Africa (3.2%) and Oceania (0.6%) led by Australia.
Brazil’s Top 10 Imports
The following product groups represent the highest dollar value in Brazil’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Brazil.
- Machinery including computers: US$41 billion (15.6% of total imports)
- Mineral fuels including oil: $34.3 billion (13.1%)
- Electrical machinery, equipment: $31 billion (11.8%)
- Vehicles: $23 billion (8.8%)
- Organic chemicals: $13.9 billion (5.3%)
- Fertilizers: $13.6 billion (5.2%)
- Pharmaceuticals: $12.3 billion (4.7%)
- Plastics, plastic articles: $11 billion (4.2%)
- Optical, technical, medical apparatus: $8.4 billion (3.2%)
- Other chemical goods: $7.4 billion (2.8%)
Brazil’s top 10 import product categories generated about three-quarters (74.7%) of the overall value of its product purchases from other countries.
The fastest growers among Brazil’s costliest imported product categories were vehicles (up 24% from 2023), plastics both as materials and items made from plastic (up 19.1%), then machinery including computers (up 18.4%).
The year-over-year decliners arose from Brazilian spending on imported fertilizers (down -7.1% from 2023 to 2024) and mineral fuels including oil (down -6.6%).
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the section below is at the more granular 4-digit product code level.
Brazil’s Costliest Machinery Imports Including Computers
In 2024, Brazilian importers spent the most on the following 10 subcategories of machinery including computers.
- Turbo-jets: US$8.5 billion (up 28.9% from 2023)
- Transmission shafts, gears, clutches: $2.1 billion (down -3%)
- Taps, valves, similar appliances: $1.88 billion (up 6.3%)
- Computers, optical readers: $1.84 billion (up 26.9%)
- Piston engine parts: $1.79 billion (up 15.6%)
- Liquid pumps and elevators: $1.6 billion (up 36.4%)
- Air or vacuum pumps: $1.59 billion (up 30.5%)
- Centrifuges, filters and purifiers: $1.57 billion (up 17.6%)
- Miscellaneous machinery: $1.44 billion (up 7.2%)
- Machinery parts: $1.13 billion (up 1.8%)
Among these import subcategories, Brazilian purchases of liquid pumps and elevators (up 36.4%), air or vacuum pumps (up 30.5%) then turbo-jets (up 28.9%) grew at the fastest pace from 2023 to 2024.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Brazilian businesses and consumers.
Brazil’s Costliest Fuel Imports
In 2024, Brazilian importers spent the most on the following 10 subcategories of mineral fuels-related goods.
- Processed petroleum oils: US$15.2 billion (down -12.3% from 2023)
- Crude oil: $8.7 billion (down -4%)
- Petroleum gases: $4.2 billion (up 80%)
- Coal, solid fuels made from coal: $3.1 billion (down -23.1%)
- Electrical energy: $1.1 billion (up 1.8%)
- Coke, semi-coke: $1 billion (down -41.1%)
- Petroleum oil residues: $583.1 million (down -9.6%)
- Coal tar oils (high temperature distillation): $241.7 million (down -5.2%)
- Petroleum jelly, mineral waxes: $85.1 million (down -31.4%)
- Tar pitch, coke: $65.8 million (down -36.6%)
Among these import subcategories, Brazilian purchases of petroleum gases (up 80%) and electrical energy (up 1.8%) grew from 2023 to 2024.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Brazilian businesses and consumers.
Brazil’s Costliest Electronics Imports
In 2024, Brazilian importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.
- Integrated circuits/microassemblies: US$5.9 billion (up 22% from 2023)
- Phone devices including smartphones: $4.2 billion (up 3.9%)
- Solar power diodes/semi-conductors: $3 billion (down -28.5%)
- Electrical converters/power units: $1.9 billion (up 11.5%)
- Flat panel displays: $1.74 billion (up 46.6%)
- Lower-voltage switches, fuses: $1.51 billion (up 14.1%)
- Insulated wire/cable: $1.44 billion (up 15.2%)
- Electric motors, generators: $1 billion (up 29.2%)
- Electric storage batteries: $837.8 million (up 15.1%)
- Electric water heaters, hair dryers: $825.9 million (up 21%)
Among these import subcategories, Brazilian purchases of flat panel displays (up 46.6%), electric motors and generators (up 29.2%) then electronic integrated circuits or microassemblies (up 22%) grew at the fastest pace from 2023 to 2024.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Brazilian businesses and consumers.
Brazil’s Costliest Vehicle Imports
In 2024, Brazilian importers spent the most on the following subcategories of imported vehicles.
- Cars: US$8.3 billion (up 43.2% from 2023)
- Automobile parts/accessories: $8.1 billion (up 12.7%)
- Trucks: $4.2 billion (up 23.4%)
- Motorcycle parts/accessories: $1 billion (up 20.8%)
- Tractors: $366.1 million (down -28.3%)
- Special purpose vehicles: $318.4 million (up 46.5%)
- Public-transport vehicles: $190.5 million (up 31.7%)
- Trailers: $157.8 million (up 19.1%)
- Motorcycles: $145.5 million (up 96.8%)
- Automobile bodies: $76.6 million (down -20.7%)
Among these import subcategories, Brazilian purchases of motorcycles (up 96.8%), special purpose vehicles (up 46.5%) then cars (up 43.2%) grew at the fastest pace from 2023 to 2024.
These amounts and the percentages within parenthesis clearly show where the declining demand lies for different types of imported vehicles among Brazilian businesses and consumers.
See also Brazil’s Top 10 Major Export Companies, Brazil’s Top Trading Partners, Brazil’s Top 10 Exports and Top South American Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on March 29, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 29, 2025
International Trade Centre, Trade Map. Accessed on March 29, 2025
X-rates.com, Exchange Rates: Brazilian Real to US Dollar (monthly average 2024). Accessed on March 29, 2025