How much is Brazilian trade worth to the UK?
4 July 2014
With the FIFA World Cup 2014 nearing its final stages, the eyes of the world are on Brazil.
However, with a fast-growing economy expected to become the fifth largest in the world by 2050, businesses were already aware of the considerable potential the country offers for overseas trade.
The UK and Brazil have a long trading relationship spanning more than 200 years and the country is currently the UK’s largest Latin American trading partner with bilateral trade worth approximately £7.7 bn.
As depicted on this infographic by Aldermore Bank, the products and services being transferred between the two nations are diverse, supporting a wide range of industries and benefitting both economies.
The transport industry, with exports worth £205m, appears to benefit the most, followed by pharmaceutical products (£186m), pesticides and herbicides (£167m), heterocyclic compounds, for use in the manufacture of drugs, pesticides, dyes and plastics, (£91m) and even whisky (£76m).
Having already invested heavily to host the World Cup, Brazil has pledged roughly US $470bn to the 2016 Summer Olympics, Rio 2016, as well as to the country’s energy generation and infrastructure.
For those working in British industries such as construction, security and retail, it’s anticipated that more opportunities will arise in the near future.
