Brazil -Australia trade surpassed US$2.4 billion in 2008
Figures released by the Brazilian Government regarding bilateral trade between Brazil and Australia show that during 2008,the total trade flow between Brazil and Australia reached US$2.4 Billion. Between 2002 and 2008, there has been a growth of 431% in the bilateral trade flow.
Brazilian exports to Australia rose accordingly, with exports rising from US$254 million (2002), to US$614 million (2007), and reaching US$1.253 billion in 2008. Australian Exports to Brazil increased from US$213 million (2002), to US$776 million (2007), and US$1.230 billion (2008). During 2008 Brazil had a slight surplus of US$23 million, following 2007 when Australia had a surplus of over US$100 million.
The data also shows the diversity and strength of Brazilian foreign trade. Of Brazil’s forty most important trade partners, only 13 countries have a share over 2% of the Brazilian trade (exports & imports combined). Among those, only half, 6 countries, are above 3% of the total Brazilian foreign trade . Australia is now the 34th largest destination to Brazilian exports, and the 36th most important partner considering total trade flows. That is equivalent to countries such as Malaysia (ranked 33th),South Africa (32nd), Hong Kong(31st) and Uruguay (30th), all with around 0.7%. Other trading partners like Indonesia (39th) and the United Arab Emirates(40th) have around 0.5%.
Note: All figures are from January to December as per Brazilian fiscal years.
Source: Brazilian Foreign Ministry
