Economic studies

Brazil, Latin America’s economic powerhouse, is a crucial market of this subcontinent. It is among the top 10 largest economies worldwide in terms of nominal GDP. In addition to a substantial consumer market, the country boasts plentiful resources in numerous sectors, such as agriculture, mining, and energy. The country has an array of economic tools at its disposal ensuring its stability, attractiveness, and development.

This study provides keys for better understanding and comprehension of this country, its economy and its consumers. It highlights the States of São Paulo and Rio de Janeiro, stops during this mission, but also deals with the intricacies and specificities of other States of the Brazilian Federation.

Brazil, a member of Mercosur, maintains diversified but privileged trade relations with China, the EU and the United States. The study addresses the country's trade policy and external trade in light of a future agreement between Mercosur and the European Union.

In addition, the study provides myriad key sectors of the Brazilian economy: agribusiness, renewable energy and infrastructure. Hydropower accounts for 87% of the produced electricity, a milestone. However, a diversification of the energy mix is preferred by means of renewable energy sources. Agribusiness represents over 7% of GDP and 40% of foreign trade; the country is the leading global producer of soybeans, coffee, sugar cane and beef. In terms of infrastructure, numerous programs have been launched; the focus is on significant investments in the (rail) road, inland waterway and maritime networks to provide modal interoperability, unique in South America.

The study was carried out by the Belgian Foreign Trade Agency, in the context of the joint economic mission to Brazil from 22 November to 1 December 2024, presided by HRH Princess Astrid, Representative of His Majesty the King and organised in partnership with the FPS Foreign Affairs, Flanders Investment & Trade, AWEX and hub.brussels.

Document only available in French and Dutch.

• Interview on the Brazilian economy, its main assets and the strong relationship between our two economies: https://youtu.be/EbRQqits8nE?si=4oJjh0jWxgRUcE97
• Interview on COP30 Belém: https://youtu.be/ElQeKIf9IqQ
• Interview on EU-Mercosur: https://youtu.be/dI6_v6ToQyY
• Interview – Belgium: important partner for Brazil: https://youtu.be/WAC-93vXDSE
• Interview – Why do business with Belgium? https://youtu.be/hEKVmwt8trM