Should Latin American SMEs consider the possibility of exporting their products to Brazil? Yes, because Brazil is the largest market in the region with almost 200 million inhabitants and because in addition to being a member of the Mercosur it has trade agreements with several countries in the region such as Chile and Bolivia, facilitating the entry of products into its territory.
If this information has convinced you to face the challenge of exporting to the verdeamarelho country, then you should investigate the characteristics of the Brazilian market. Below we provide answers to your possible questions.
- What are Brazil’s main imports? According to a document from the Brazilian Ministry of Foreign Affairs, “almost 20% of the country’s imports consist of chemical products. Also significant are machinery and equipment (10.5% of the total number), oil (10.4%), automobiles (8.6%) and communications and electronic material (7.5%). However, the percentage of import products is diversified, with a significant amount of imports of other products with different features such as metallurgical, medical-hospital, precision and industrial automation products, food and beverages, rubber and plastics, office machinery and agricultural goods.”
- How is the Brazilian market made up? According to the same report by the Brazilian Ministry of Foreign Affairs, the market of this country has changed significantly in recent years: while before consumption was concentrated in classes A and B (the higher income sectors), it has now expanded beyond these limits. Therefore, “foreign companies must no longer consider the Brazilian market as sophisticated and restrictive but as diversified and broad, offering several opportunities to producers of all types of goods, prices and quality.”
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