Events > LATAC Opportunities Brochure

Latin America & the Caribbean

Opportunities for UK companies

Brazil

In 2020, Brazil was predicted to be the 8th largest economy in the world and the largest in Latin America and Caribbean[1] being a gateway for business in neighbouring countries. Currently, many of the largest global companies operate in Brazil, including many UK companies, such as AtraZeneca, Rolls Royce, Shell, BP, JCB and Experian.

Market Detail

Brazil is the UK’s largest trading partner in LATAC and has long historical ties in trade and investment with the UK. Total trade in goods and services between the UK and Brazil was £5.4bn in the four quarters to the end of Q3 2020[2].

While struggling to minimise the impact of Covid-19, the Government of Jair Bolsonaro is determined to boost Brazil’s economy through a series of improvements to the business environment including reducing barriers to trade and increasing Brazil’s engagement in global value chains.

UK companies exporting to Brazil will find:

  • European oriented culture and business practices
  • Expanding consumer market
  • Strong and globally integrated business base
  • Solid and modern banking system, with presence of World’s largest investment banks
  • Expanding labour force
  • A gradual trend towards deregulation and reducing red tape

Opportunities in Brazil for UK companies:

  • Advanced Engineering and Automotive
  • Agritech
  • Creative Industries
  • Defence and Security
  • Education
  • Energy
  • Financial Services
  • Food & Drink
  • Infrastructure
  • Life Sciences
  • Marine
  • Mining
  • Smart Cities and Technology

[1] GDP PPP terms. IMF World Economic Outlook, October 2020 [LINK]