Business prospects in Brazil can vary quite a bit with the political situation. However, the Brazilian market still holds immense potential as the 8th largest economy in the world.
What do we know about Brazilian customers?
Brazil contains 200 million people hailing from a diverse mix of ethnic backgrounds. Amongst this assortment, the wealthiest 10% are 38 times richer than the poorest 10%. Nearly 90% of Brazilians reside and work by the urbanized south-east coastline.
Brazil’s rate of urbanization is 1.17% annually from 2010 till 2015, resulting in 85.7% of its population residing and working in the urban areas, mostly along the south east coastline.
What are Brazil’s most active business centers:
- Rio de Janeiro - Home to numerous corporate headquarters, many benefits due to the allowances as former capital.
- São Paulo - Booming industrial and agricultural haven, responsible for approximately 60% of the nation’s industrial production.
- Belo Horizonte - Rapidly expanding business destination with rich mineral deposits, manufacturing facilities for steel, automobiles, textiles and agricultural distribution centers.
What kinds of import are in demand in Brazil?
Brazil’s current import value is $241.9 billion (2014 est). Products being imported into Brazil include:
- Electrical and transport equipment
- Chemical products
- Automotive parts
Which are Brazil’s favorite import partners?
(Percentage of total exports)
- China (16.3%)
- United States (15.4%)
- Argentina (6.2%)
- Germany (6%)
- Nigeria (4.2%)
Which is Brazil’s Top Shipping Port?
Porto de Santos or Port of Santos is Brazil’s busiest cargo port.
Other Major ports:
- Porto de Vitória – ES
- Porto de Paranaguá – PR
Which are Brazil’s Top Cargo Airports?
- São Paulo-Guarulhos International Airport
- Viracopos-Campinas International Airport
- Eduardo Gomes International Airport
- Rio de Janeiro-Galeão International Airport
- Brasília International Airport
What are Brazil’s import regulations?
The import process in Brazil is a complicated one involving strict regulation. This is essentially to minimize the entry of illegal substances and products into the country.
It is necessary to apply to the Registry of Exporters and Importers for any trade transaction. It is better to register prior to shipment to avoid delays in process. This can be done online.
An Import Declaration (DI) containing the name, address, description and classification of goods, unit price, total value and origin is then required.
What are Brazil’s Import Tariff and Taxes?
Next is the customs clearance process during which tariff and taxes are to be paid. These primarily include:
- State Vat (ICMS) that varies according to each state, the average amount being 17%
- Federal VAT (IPI) which is essentially charged on all finished goods being imported
- Municipal Service Tax (ISS)
- Gross Receipt Contributions (PIS-PASEP and COFINS) depend on the business activity and revenue gained
Prohibited import products:
- Used consumer goods
- Beef from cattle injected with growth hormones
- Colour prints for theatre and television industry
- Products harmful to the environment, national security and personal health or sanity