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Brazil Letter of Credit Transactions - Knowledge Bank 
 
























Economy of Brazil and International Trade at a Glance : 
    
  1. Gross domestic product of Brazil is $2,35 trillion US dollars in year 2012. This makes Brazilian economy 6th largest economy in the world after USA, China, Japan, Germany and France.  
  2. Brazil is the world's 21st biggest importer with 223,20 billion US dollars import volume in year 2012 and 23th biggest exporter with 242,60 billion US dollars export volume in year 2012.
  3. International trade has been playing a significant role on Brazilian economy but after comparing foreign trade stats with other big economies like Germany or Japan, we can conclude that export and import do not make enough contribution to gross domestic product of Brazilian economy.  
  4. Brazil economy experiencing trade surpluses for the last couple of years which means that annual Brazil exports are more than annual Brazil imports. 
  5. Brazil economy is the biggest force of the South American economy at the moment. 
  6. Main export products of Brazil : Brazil is the world´s largest exporter of soybean (41 percent of world´s exports) and of orange juice (55 percent of world´s exports) and accounts for 35 percent of global exports of raw cane and refined sugar. Other exports include: iron ore and concentrates (13 percent), oil (8 percent), raw sugar (4 percent) and coffee (2.4 percent).
  7. Main import products of Brazil : Raw materials and intermediate goods (45 percent of total exports), capital goods (22 percent), consumption durables (10 percent), oil (6 percent) and motor vehicles (4 percent).
  8. Biggest Export Partners of Brazil : China (17%), United States (11%), Argentina, Netherlands, Japan, Germany and India. 
  9. Biggest Import Partners of Brazil : China (15%), United States (14.6%) and Argentina (7%), Netherlands, Japan, Germany and India.

Biggest Banks in Brazil and their SWIFT Codes : 









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What are the key points of consideration when working with a letter of credit which is issued in Brazil? 

You should understand Brazil economy, Brazil exports and imports as well as Brazil banks before you proceed to work with a letter of credit which is issued in Brazil.
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Bank Name
Assets (billion USD)
Swift Code(BIC)
Banco do Brasil
489,50
BRASBRRJXXX
Itau Unibanco
437,04
CBBABRSP
Banco Bradesco
343,18
BBDEBRSP
Caixa Economica Federal
273,56
CEFXBRSP
Santander Brasil
227,78
ABNABRSP
HSBC Brasil S.A. - Banco Multiplo
82,11
BCBBBRPR
Capital
Brasilia
Government
Federal Presidential Republic
Population
201,032,714
Gross domestic product, PPP
$2.356,00 billion
Currency
Real (R$) (BRL)
International Tel. Code
+55