Half of the value transacted between companies in Brazil in 2025 was concentrated in six product categories, from fuels to beverages. The signage? A large part of the resources spent by the corporate market go mainly to infrastructure and daily operation of companies.
Data from an additional chapter of Panorama do Contas a Pagar, from , shared exclusively to InfoMoneyconsidered 183.1 million invoices issued in 2025, totaling R$1.6 trillion in transactions mapped by 2.67 million CNPJS. The spending categories were grouped based on the chapters of the Mercosur Common Nomenclature.
Fuels and petroleum derivatives form the category that cost companies the most in aggregate, accumulating R$233.8 billion in transactions. Subsequently, vehicles and auto parts were responsible for moving R$201.2 billion. Machines and mechanical equipment are in third place, representing R$105.6 billion of spending. Together, the six categories in the table below represented 50.09% of purchases.
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| Category | Bills |
| Fuels and petroleum derivatives leading | R$233.8 billion |
| Vehicles and auto parts | R$ 201.2 billion |
| Machines and mechanical equipment | R$ 105.6 billion |
| Electrical machines, apparatus and materials | R$100 billion |
| Pharmaceuticals | R$82 billion |
| Drinks | R$78.8 billion |
*Data from Accounts Payable Panorama, from Qive
“Fuel, vehicles and machines reflect the economy’s dependence on logistics, mobility and production capacity. This makes operational efficiency and financial management strategic factors for growth”, says Vitor de Araujo, co-founder and Head of AI Lab at Qive.
In addition to the financial analysis, which takes into account the amount moved by category, Qive also evaluated the frequency of expenses appearing in invoices. Using this approach, pharmaceutical products registered the highest recurrence, with 23.34 million documents issued in 2025. Vehicles corresponded to 12.77 million of emissions and mechanical machines 12.12 million.
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| Category | Notes issued |
| Pharmaceuticals | 23.34 million |
| Vehicles | 12.77 million |
| Mechanical machines | 12.12 million |
| Drinks | 11.36 million |
| Electrical machines and materials | 8.51 million |
| Fuels | 8.13 million |
*Data from Accounts Payable Panorama, from Qive
Retail sector is the main buyer
According to the survey, Retail was responsible for R$766.16 billion of purchases, equivalent to 47.7% of the financial volume. Then comes industry, with R$524.42 billion, or 32.6%. The two sectors form the main purchasing channel: main buyers, retailers spent R$350 billion on products from the industrial sector. On the sales side, the industry leads with R$812.31 billion.
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The retailers’ supply pattern is large-scale purchasing to maintain the assortment. In sectors such as Energy, spending is concentrated in a smaller basket in which mineral fuels represent almost 80% of spending. In agribusiness, there is diversification of purchases with fertilizers, various products from the chemical industry, mineral fuels and other related products.
Infrastructure and Services allocate significant portions of the budget to vehicles and fuels, demonstrating dependence on mobility and logistics operations.
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“Purchases by sector meet the needs of each day-to-day operation. But, when we analyze it on a scale, it becomes clear that the fiscal and financial maturity of a company also depends on the maturity of its suppliers. With the arrival of the Tax Reform, this interdependence gains even greater weight”, observes Vitor.
Impact of Tax Reform
In total, R$4.07 trillion of payments between 2023 and 2025 were made in installments, equivalent to 76.8% of documents issued in the period. According to Qive, the transition from PIS/Cofins credits to the IBS and CBS model promoted by tax reform could impact this interdependent network. Furthermore, mechanisms proposed by the new model, such as split payment, tend to increase the need for control over documents, calculation deadlines, suppliers and tax credits.
“Understanding the purchasing behavior of corporations is no longer just a financial analysis and becomes a strategic decision-making tool. Efficiency, predictability and ability to adapt will be decisive for the competitiveness of Brazilian companies in the coming years”, concludes Vitor de Araujo.
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