Brazil is the fifth largest country in the world, with a population of approximately 204 million. Brazil is the world’s sixth largest economy and by far the largest in South America, so it turns Brazil a potential and security country to import from. It has one of the world’s most rapidly developing economies and a Gross Domestic Product (GDP) per head greater than India and China.
Brazil is one of the four countries that form the BRIC (Brazil, Russia, India and China), and it has the potential to be one of the world’s most dominant economies by 2050, second economists, it reforces the initial information about this country to be a serious and stable to trade with. Some of strengths of Brazil are: strong industrial, large production of commodities, such as canned food, corn, grains, oil. Its grains are internationally certificated, and actually, Brazil has a strong International Trade base to serve its costumers.
The country is the 11th in petroleum production, and the 29th country of the largest international primary products exporters.
Commodities represents 60% of all exportation from the country. And now, the exchange variation of Dollar favors the importation from Brazil.
You must know your company need to register in RADAR, SECEX and SISCOMEX systems to be able to import and in those systems you register, inform your imports, you can request licenses and others documents if necessary in your international trade. As for the taxation of each product, it is necessary to say that Brazil, the Mercosul Common Nomenclature, the NCM, which is based on the international method of product classification. The classification of goods under the NCM code defines which taxes and rates are due.
Thanks to Brazil’s domestic market of some 200 million consumers and preparation work for the hosting of Olympics in 2016, the Brazil economy will improve its competitiveness forces to export. The weakening of Brazilian real front of dollar, as mentioned before, will help bolster the country’s export and cost competitiveness, incentivising foreign investors and manufacturers to invest and start up production in Brazil.
In practice, lets see three steps you need when you decide to import from Brazil:
1 – You’ll need to decide what kind of goods you want to import, and then you need to know if your country has an international agreement with Brazil, witch are the licenses you’ll need, and all documentation;
2 – You’ll must hire a licensed customs broker with specific experience in the kinds of products you want to import. Expertise in a type of product trumps knowledge of the country of origin;
3 – Confirm with your licensed customs broker all documents, and always be aware of the whole process and ask him every time you are in doubt;
Concluding, with all these informations and tips you’re certain able to import form this potential and providential of essential goods country, this great economy of south of America, Brazil. And if you’re fully prepared and sail through your port of entry the first time, chances are you’ll make it a habit.