Brazil and U.S. Share More Than Just Love of Soccer
June 19, 2014This post contains external links. Please review our external linking policy.
Jonathan Gartenberg is an Intern in the International Trade Administration’s Office of Trade and Economic Analysis
World Cup fever plays a part in the expanding U.S.-Brazil commercial relationship.
The FIFA World Cup is underway and all over the world, excitement grows as fans cheer on their national teams.
Americans are no exception.
In fact the Brazilian Federal Government reported that more than 150,000 tickets were assigned to the United States – more than any other country outside Brazil.
By cheering on the U.S. team, fans are not only supporting players but contributing to the growing commercial relationship between Brazil and the United States.
Below are some highlights from Brazil’s economic and trade profile:
- Like the United States, Brazil is mainly a service economy. In 2012, services comprised 68.5 percent of Brazil’s economy, compared to 78.6 percent of the U.S. economy in 2011.
- Brazil is a net exporter to the world and had a 2013 trade balance of $2.5 billion. In the same year, Brazil’s exports totaled $242 billion.
- As recipient of $44.1 billion of U.S. exports in 2013, Brazil earns a spot in the Top 10 U.S. Export Markets. Our top five exports to Brazil, are chemicals, transportation equipment, computer and electronic products, machinery (except electrical), and petroleum and coal products.
- U.S. and Brazil mutual foreign direct investment totals more than $80 billion dollars, supporting thousands of jobs in both countries.
Even when world sporting events aren’t going on, the Department of Commerce, International Trade Administration (ITA), and other government partners work hard to further develop the U.S.-Brazil commercial relationship. ITA maintains five offices around the country, and our commercial specialists connect U.S. companies to qualified partners and promising business opportunities.
You can learn more about the work ITA is doing in Brazil at http://www.export.gov/brazil, or follow our Brazil team on Twitter at @Export2Brazil.
Stay tuned for more economic profiles on the countries competing in the World Cup!
*Except where noted, all figures are from Trade Policy Information System.
Tradeology, the ITA Blog 