4 paragraphs about Brazil trade (55 points)

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In 2011, the United States and Brazil signed the Agreement on Trade and Economic Cooperation to enhance cooperation on trade and investment between the Western Hemisphere's two largest economies. The agreement expands our direct trade and investment relationship by providing a framework to deepen cooperation on a number of issues of mutual concern, including innovation, trade facilitation and technical barriers to trade.  

In 2019, Brazil GDP was an estimated $1.8 trillion (current market exchange rates); real GDP was up by an estimated 1.1%; and the population was 210 million. (Source: IMF)  U.S. goods and services trade with Brazil totaled an estimated $105.1 billion in 2019. Exports were $67.4 billion; imports were $37.6 billion. The U.S. goods and services trade surplus with Brazil was $29.8 billion in 2019.  Brazil is currently our 14th largest goods trading partner with $73.7 billion in total (two way) goods trade during 2019. Goods exports totaled $42.9 billion; goods imports totaled $30.8 billion. The U.S. goods trade surplus with Brazil was $12.0 billion in 2019.  

Trade in services with Brazil (exports and imports) totaled an estimated $31.4 billion in 2019. Services exports were $24.6 billion; services imports were $6.8 billion. The U.S. services trade surplus with Brazil was $17.8 billion in 2019.  Exports, Brazil was the United States' 9th largest goods export market in 2019.  

U.S. goods exports to Brazil in 2019 were $42.9 billion, up 8.7% ($3.4 billion) from 2018 and up 64.2% from 2009.  U.S. exports to Brazil account for 3% of overall U.S. exports in 2019.  The top export categories (2-digit HS) in 2019 were: mineral fuels ($12 billion), aircraft ($7.0 billion), machinery ($4.9 billion), electrical machinery ($3.4 billion), and organic chemicals ($2.0 billion).  U.S. total exports of agricultural products to Brazil totaled $610 million in 2019. Leading domestic export categories include: wheat ($86 million), feeds & fodders not elsewhere specified or indicated ($49 million), eggs & products ($40 million), dairy products ($35 million), and prepared food ($34 million).  U.S. exports of services to Brazil were an estimated $24.6 billion in 2019, 8.4% ($2.2 billion) less than 2018, but 81.0% greater than 2009 levels.  Leading services exports from the U.S. to Brazil were in the travel, transport, and telecommunications, computer, and information services sectors.  

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