Thank you for visiting our “Top 5 Delivered by DHL” series. It’s a fast and informative way to help you learn more about global topics that affect your business. Below, we’re delivering insights about trade with Brazil, and look for more about Going Global, TPP, Cuba, NAFTA, Global E-Commerce, International Business Travel, Avoiding Import Delays, and Chile, Peru and Colombia on our YouTube playlist.
Below, we present the video “Top 5 Delivered by DHL: Trading with Brazil.”
It is well known that Brazil’s economy is large and dynamic. While the country is currently experiencing economic challenges, the fact remains that the sheer size of the Brazilian marketplace translates into powerful business opportunities for U.S. companies looking to expand and grow beyond our borders.
Today, a special agreement in place between the United States and Brazil – the Agreement on Trade and Economic Cooperation – aims to promote direct trade and investment, while encouraging our countries to cooperate on key issues, including innovation and trade facilitation. As discussed frequently in the pages of DHL Expressed, the future is global, and companies that want to find new customers, build their brands and improve financial performance are increasingly looking abroad. A growing player on the international stage, Brazil is a good place to explore building your company’s export strategy.
Here is what you need to know before you get started:
1. Brazil is hot (not just in temperature)
While headlines have described concerns about the planning challenges of the Rio Olympics, and concerns about the Zika virus, the fact remains that Brazil is a major player on the world stage. The Summer Olympic Games are not only testament to the country’s global status, they are driving international business and people to Brazil’s shores.
2. There are several growing industries
Some of the top export opportunities in Brazil include agricultural equipment and services, aircraft and parts, and medical equipment. These areas of export, along with others, combined to make Brazil the 11th largest goods export market for the U.S. in 2015.
3. A Brazilian partner is important
U.S. companies looking to do business in Brazil are urged to have a Brazilian partner, or a physical presence in Brazil. Success in Brazil’s business culture relies heavily upon the development of strong personal relationships.
4. It is South America’s largest economy
Brazil has a large and diverse population of approximately 201 million people. The country’s language is Portuguese and its currency is Brazilian Real. In 2013, it imported $44 billion worth of U.S. goods.
5. There are import tariffs
Imports are subject to a number of taxes and fees in Brazil, which are usually paid during the customs clearance process. There are three taxes that account for the bulk of import costs: the Import Duty, the Industrialized Product tax and the Merchandise and Service Circulation Tax.
For an overview of the top things to know about trade with Brazil, check out the Top 5 Delivered video above. To watch more Top 5 Delivered videos, click here.
Have more questions about trade with Brazil? Send us what you’d like to know @DHLUS.