Minas GeraisState in Brazil
2022 Economic Complexity : -0.44, Rank 7 of 23
Aug 2023 Trade Exports | Imports: $3.28B | $1.35B, 3 of 28 | 5 of 28
Aug 2023 Country Destination | Origin: China | China , $1.3B | $342M
Aug 2023 Product Exports | Imports: Iron ore, concentrate, not iron pyrites,unagglomerate | Micro Cars , $1.03B | $53.1M
Overview This page contains the latest international trade data for Minas Gerais. In August 2023 Minas Gerais was the number 3 in total exports and the number 5 in total imports in Brazil.
Exports In 2022, Brazil's Minas Gerais exported $40.2B, making it the 3rd largest exporter out of the 27 exporters in Brazil. In 2022 the top exports of Minas Gerais were Iron ore, concentrate, not iron pyrites,unagglomerate ($12.1B), Coffee, not roasted, not decaffeinated ($6.9B), Soya beans: other than seed, whether... ($3.32B), Ferro-niobium ($1.64B), and Pig iron, non-alloy, <0.5% phosphorus ($1.62B).
Imports In 2022, Brazil's Minas Gerais imported $17.6B, making it the 5th largest importer out of the 27 importers in Brazil. In 2022 top imports of Minas Gerais were Bituminous coal, not agglomerated ($939M), Potassium chloride, in packs >10 kg ($832M), Coke, semi-coke of coal, lignite, peat... ($815M), Photovoltaic cells assembled in modules or... ($744M), and Small Sized Cars ($476M).
Economic Complexity In 2022, the highest complexity exports of Minas Gerais according to the product complexity index (PCI) are Vehicle Bodies (including cabs) for the... (1), Steel Bars (0.64), Refractory Bricks (0.51), Calculators (0.51), Dissolving Grades Chemical Woodpulp (0.29), Other Metals (0.15), Iron Pipes (0.15), Hydrogen (0.13), Aluminium Cans (0.048), and Worked Slate (-0.048). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
August, 2023
Overview In August 2023 Minas Gerais exported $3.28B and imported $1.35B, resulting in a positive trade balance of $1.93B. Between August 2022 and August 2023 the exports of Minas Gerais have decreased by $-213M (-6.1%) from $3.49B to $3.28B, while imports decreased by $-332M (-19.7%) from $1.68B to $1.35B.
Trade In August 2023, the top exports of Minas Gerais were Iron Ore ($1.03B), Coffee ($462M), Soybeans ($211M), Raw Sugar ($197M), and Ferroalloys ($171M). In August 2023 the top imports of Minas Gerais were Cars ($91.1M), Mixed Mineral or Chemical Fertilizers ($53.9M), Semiconductor Devices ($53M), Potassic Fertilizers ($52.3M), and Nitrogenous Fertilizers ($46.2M).
Destinations In August 2023, Minas Gerais exported mostly to China ($1.3B), United States ($273M), Argentina ($167M), Netherlands ($111M), and Canada ($102M), and imported mostly from China ($342M), United States ($169M), Argentina ($122M), Italy ($59.8M), and Canada ($58.1M).
Growth In August 2023, the decrease in Minas Gerais's year-by-year exports was explained primarily by an decrease in exports to China ($-232M or -25.6%), United Kingdom ($-38M or -32.7%), and Malaysia ($-33M or -76.4%), and product exports decrease in Iron Ore ($-407M or -37%), Gold ($-28M or -17.6%), and Pig Iron ($-24M or -26%). In August 2023, the decrease in Minas Gerais's year-by-year imports was explained primarily by an decrease in imports from South Korea ($-16.4M or -46.4%), Italy ($-12.6M or -23%), and France ($-11.7M or -54.9%), and product imports decrease in Semi-Finished Iron ($-18.4M or -99.9%), Rice ($-12.7M or -82.2%), and Raw Aluminium ($-11.9M or -81.9%).
EXPORT GROWTH (August 2022 - August 2023): $-213M, (-6.1%)
IMPORT GROWTH (August 2022 - August 2023): $-332M, (-19.7%)
This section shows exports and imports data at subnational level for Minas Gerais. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Minas Gerais over time.
For full datasets download visit Bulk Download page.
Top Destination (2022): China, $14.4B
Top Product (2022): Iron ore, concentrate, not iron pyrites,unagglomerate, $12.1B
In 2022 the top export destinations of Minas Gerais were China ($14.4B), United States ($4.08B), Argentina ($1.84B), Germany ($1.82B), and Netherlands ($1.49B).
In 2022 the top exports of Minas Gerais were Iron ore, concentrate, not iron pyrites,unagglomerate ($12.1B), Coffee, not roasted, not decaffeinated ($6.9B), Soya beans: other than seed, whether... ($3.32B), Ferro-niobium ($1.64B), and Pig iron, non-alloy, <0.5% phosphorus ($1.62B).
Fastest Growing Exports Destination (Aug 2022 - Aug 2023)
Rapidly Declining Export Origins (Aug 2022 - Aug 2023)
Top Origin (2022): China, $5.11B
Top Import (2022): Bituminous coal, not agglomerated, $939M
In 2022 the top import origins of Minas Gerais were China ($5.11B), United States ($2.29B), Argentina ($1.2B), Russia ($903M), and Italy ($676M).
In 2022 the top imports of Minas Gerais were Bituminous coal, not agglomerated ($939M), Potassium chloride, in packs >10 kg ($832M), Coke, semi-coke of coal, lignite, peat... ($815M), Photovoltaic cells assembled in modules or... ($744M), and Small Sized Cars ($476M).
Economic Complexity (2022): -0.44
Minas Gerais ranks 7th out of the 27 states in Brazil according to ECI.
The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.
Estimated using exports data.
The economic complexity of a territory can change year to year. Minas Gerais it is in position 7th considering its ECI in the last year.
The top export opportunities according to the relatedness level, without considering those products were Minas Gerais already has a comparative advantage, are led by Manganese Ore (0.14), Sorghum (0.12), Nickel Ore (0.12), Coal Briquettes (0.12), and Raw Cotton (0.12).
The highest complexity exports of Minas Gerais according to the product complexity index (PCI) are Vehicle Bodies (including cabs) for the... (1), Steel Bars (0.64), Refractory Bricks (0.51), Calculators (0.51), Dissolving Grades Chemical Woodpulp (0.29), Other Metals (0.15), Iron Pipes (0.15), Hydrogen (0.13), Aluminium Cans (0.048), and Worked Slate (-0.048). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Pig Iron (136.71), Coffee (99.50), Other Mineral (58.95), Other Metals (52.68), and Worked Slate (36.23).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Minas Gerais is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions. Bubble size corresponds to exports value by year 2020.
Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
v5.1.17 rat