Mercosul, an economic and political agreement that includes Argentina, Paraguay, Uraguay and Brazil, promotes free trade and easy transit of goods, people and currency. In 2008, Mercosul signed a free trade agreement with Israel, and later signed with Egypt in 2010.
Brazil is also one of the leading players in the World Trade Organization's Doha Development Round negotiations for discussion on lowering trade barriers around to world to boost global trade. However, discussions has been stalled due to differences between EU, US, Japan and other developing countries, including Brazil.
As Brazil's economy expects to expand in the next 5 years, experts says that the appreciation of the real will impede the increasing demand of Brazil's exports, thus reducing Brazil's total exports. A strong real may also increases demand for imports of foreign goods, thus resulting to a trade deficit and widening of Brazil's current account deficit.
Total value of exports: US$199.7 billion
Primary exports - commodities: transport equipment, iron ore, soybeans, footwear, coffee, automotiv