Exports of goods from the EU27 to Brazil dropped to €21.6 billion in 2009 from the peak of €26.3 billion in 2008. Imports fell to €25.7 billion in 2009, down from €35.9 billion in 2008. As a result, the EU’s trade deficit with Brazil declined from €9.6 billion in 2008 to €4.1 billion in 2009. These figures were released by Eurostat on the occasion of the EU-Brazil summit, taking place on 14 July in Brasilia. Eurostat notes that the slowdown in EU27 trade with Brazil between 2008 and 2009 is in line with the general downward trend for all EU27 external trade during the same period.

Brazil’s share in the EU27’s total external trade in goods has remained at around 2% since 2000. In 2009, Brazil was the EU27’s tenth most important trading partner.

Among the EU27 member states, Germany (€7.2 billion or 33% of EU exports of goods) was by far the largest exporter to Brazil in 2009, followed by Italy (€2.7 billion or 12%), France (€2.6 billion or 12%) and the United Kingdom (€1.9 billion or 9%). The Netherlands (€5.6 billion or 22% of EU imports) was the largest importer, followed by Germany (€5 billion or 20%), the United Kingdom (€2.9 billion or 11%), France (€2.5 billion or 10%), Italy (€2.4 billion or 9%) and Spain (€2.2 billion or 9%).

Around 90% of EU27 exports to Brazil, in 2009, were manufactured goods (cars, medicine and aircraft), while food and drink and raw materials (soy beans, oilcake, iron ore, coffee and crude oil) accounted for more than 30% of imports.