News

Brazil’s Trade Balance Rebounds in February
Brazil posted a USD 4.21 billion trade surplus in February 2026, rebounding from a USD 0.467 billion deficit a year earlier but slightly missing forecasts of USD 4.23 billion. Exports rose 15.6% year-on-year to USD 26.31 billion, driven by strong growth in mining (55.5%) and agriculture (6.1%), led by iron ore, copper ores, crude oil, corn, soybeans, and beef. Imports fell 4.8% to USD 22.10 billion, with sharp declines in agriculture (-20%) and manufacturing (-4%), particularly in wheat, corn, and machinery, partially offset by increases in live animals, soybeans, and passenger vehicles. Exports to China surged 38.7% and to the EU 34.7%, while sales to Argentina dropped 26.5% and to the US fell 20.3%.
Published on 2026-03-05

Brazil Trade Surplus Jumps on Sharp Import Drop
Brazil posted a USD 4.34 billion trade surplus in January 2026, up 85.8% year on year, largely driven by a sharp drop in imports. Purchases abroad fell 9.8% to USD 20.8 billion, led by a 30.2% plunge in extractive industry imports. Agricultural and livestock imports declined 28.7%, while those from the transformation industry fell 8.2%. Imports from Argentina (-13.6%), the US (-10.9%), China (-4.9%) and the EU (-11.5%) all decreased. Exports edged down 1% to USD 25.1 billion, with extractive sales falling 3.4% and transformation industry exports slipping 0.5%, partly offset by a 2.1% rise in agricultural shipments. Exports to Argentina (-24.5%), the US (-25.5%) and the EU (-6.2%) declined, while sales to China jumped 17.4%.
Published on 2026-02-05

Brazil Posts Record December Trade Surplus
Brazil recorded a trade surplus of USD 9.6 billion in December 2025, up 107.8% year-on-year and the largest ever for a December, as exports hit a record USD 31.0 billion (24.7%) while imports rose 5.7% to USD 21.4 billion. Total trade reached USD 52.4 billion, also a December record. Over the year, manufacturing exports rose 3.8% in value to a record USD 189 billion, supported by higher volumes and strong shipments of beef, pork, vehicles, machinery and roasted coffee. Extractive exports grew 8% in volume, with record iron ore and oil shipments, while agricultural exports rose 7.1% in value, led by green coffee and soybeans. Exports to China increased 6% to USD 100 billion, shipments to the EU rose 3.2% and exports to Argentina jumped 31.4%, while sales to the US fell 6.6% despite a December improvement. On the import side, capital goods led gains (23.7%), fuel imports declined 8.6%, and purchases from China, the US and the EU increased.
Published on 2026-01-06

Brazil Trade Surplus Narrows in November
Brazil’s trade surplus narrowed to $5.84 billion in November 2025, from $6.57 billion in October and $6.75 billion in November 2024, as exports rose less than imports. The latest figure came in slightly above market expectations of $5.7 billion. Exports rose 2.4% year-on-year to $28.51 billion, supported by strong sales in agricultural (+25.8%) and manufactured goods (+3.7%), which more than offset a drop in the extractive industry (-14.0%). Meanwhile, imports increased 7.4% to $22.67 billion, driven mainly by higher purchases from the manufacturing sector (+9.3%) that outweighed declines in agricultural imports (-5.4%) and extractive industry imports (-18.1%). Among major trading partners, exports to China surged 41%, while imports edged up 3.1%. Sales to the US declined 28.1%, while imports climbed 24.5%. For the January-November period, the country’s trade surplus narrowed to $57.84 billion from $69.54 billion in the same period last year.
Published on 2025-12-05

Brazil Trade Surplus Narrows in November
Brazil’s trade surplus narrowed to $5.84 billion in November 2025, from $6.57 billion in October and $6.75 billion in November 2024, as exports rose less than imports. The latest figure came in slightly above market expectations of $5.7 billion. Exports grew 2.4% year-on-year to $28.51 billion, supported by strong sales in agricultural (+25.8%) and manufactured goods (+3.7%), which more than offset a drop in the extractive industry (-14.0%). Meanwhile, imports increased 7.4% to $22.67 billion, driven mainly by higher purchases from the manufacturing sector (+9.3%), as imports from agricultural (-5.4%) and extractive industries (-18.1%) dropped. Among major trading partners, exports to China surged 41%, while imports rose 3.1%. Sales to the US declined 28.1%, while imports climbed 24.5%. For the January-November period, the country’s trade surplus narrowed to $57.84 billion from $69.54 billion in the same period last year.
Published on 2025-12-05

Brazil Trade Surplus Exceeds Expectations
Brazil recorded a trade surplus of USD 6.96 billion in October 2025, up 70.2% year-on-year and above both September’s USD 2.99 billion and market expectations of USD 6.2 billion. Exports rose 9.1% to USD 31.98 billion, amid a 21% rise in agriculture and a 22% increase in extractive industries, while manufacturing exports grew 0.7%. Imports fell 0.8% to USD 25.01 billion, as a 30.1% drop in extractive industry purchases offset higher inflows of manufacturing goods, up 1%, and agricultural products, up 3.5%. Brazil posted a USD 2.77 billion surplus with China, USD 400 million with Argentina, and USD 200 million with the EU, while running a USD 1.76 billion deficit with the US.
Published on 2025-11-06

Brazil Eyes Quick Trade Accord with U.S.
Brazilian President Luiz Inacio Lula da Silva stated on Monday that U.S. President Donald Trump had "guaranteed" a forthcoming trade deal between the two nations, following their recent meeting. Speaking at the ASEAN summit in Malaysia, Lula said talks with Trump went well and predicted an agreement would be reached "faster than anyone thinks." This comes amid heightened tensions, as the U.S. imposed 50% tariffs on Brazilian goods in response to the sentencing of former President Jair Bolsonaro. Lula criticized the U.S. actions as "incorrect" but expressed openness to dialogue, saying he was willing to discuss any issue with Trump and even offer assistance on matters related to Venezuela.
Published on 2025-10-27

Brazil Trade Surplus Beats Expectations
Brazil posted a trade surplus of USD 2.99 billion in September 2025, down from August’s USD 5.86 billion, but beating expectations for 2.65 billion surplus. Exports rose 7.2% year-on-year to USD 30.53 billion, driven by a 2.5% increase in manufacturing, a 9.2% gain in extractive industries, and an 18.0% rise in agriculture. Imports climbed 17.7% to USD 27.54 billion, led by a 21.5% increase in manufacturing and a 3.5% rise in agriculture, while extractive-industry imports dropped 26.1%. Among key trading partners, exports to Argentina surged 24.9% while imports fell 2.8%, generating a surplus of USD 580 million. Exports to China, Hong Kong and Macau increased 14.7% while imports rose 9.0%, producing a surplus of USD 2.31 billion. Sales to the US fell 20.3%, and were outpaced by a 14.3% rise in imports, resulting in a deficit of USD 1.77 billion. Cumulatively, from January to September 2025, exports grew 1.1% while imports jumped 8.2%, leading to a trade surplus of USD 45.48 billion.
Published on 2025-10-06

Brazil Trade Surplus Surpasses Expectations
Brazil posted a trade surplus of USD 7.07 billion in July 2025, up from June’s USD 5.89 billion and above market expectations of USD 5.6 billion. Exports rose 4.8% year-on-year to USD 32.31 billion, driven by a 7.4% increase in manufacturing, a 3.6% gain in extractive industries, and a marginal 0.3% rise in agriculture. Imports climbed 8.4% to USD 25.24 billion, led by an 11.1% increase in manufacturing and a 3.8% rise in agriculture, while extractive industry imports dropped 29.2%. Among key trading partners, exports to Argentina surged 42.4% while imports fell 8.0%, generating a surplus of USD 560 million. Exports to China, Hong Kong, and Macau declined 2.7%, while imports rose 8.0%, producing a surplus of USD 3.99 billion. Sales to the US increased 3.8%, but were outpaced by an 18.2% rise in imports, resulting in a deficit of USD 560 million. Cumulatively, from January to July 2025, exports edged up 0.1% while imports jumped 8.3%, leading to a trade surplus of USD 36.98 billion.
Published on 2025-08-06

Trump Delays Brazil Tariffs, Spares Key Exports
The 50% tariff on most Brazilian goods announced by U.S. President Donald Trump will take effect on August 6, delayed from the initially stated August 1 date. The move is tied to Brazil’s prosecution of former President Jair Bolsonaro, who is on trial for allegedly plotting a coup following his 2022 election loss. However, Trump softened the impact by exempting key sectors, including civil aircraft, energy, orange juice, pig iron, precious metals, wood pulp, and fertilizers. In an executive order and accompanying White House factsheet, the administration cited the ongoing legal proceedings involving Bolsonaro, a close Trump ally, as the reason behind the decision. "We're not facing the worst-case scenario," said Brazilian Treasury Secretary Rogerio Ceron, describing the outcome as “more benign” than expected.
Published on 2025-07-30

Brazil to Open Tax Advisory Office in China
Brazil will open a tax advisory office in China to deepen ties with its top trading partner, the finance ministry announced. The move follows a spike in global trade tensions—triggered in part by U.S. President Donald Trump's 50% tariffs on Brazilian goods. With limited space to negotiate with Washington, Brasilia is turning to Beijing. The new office will play a strategic role in sharing tax and customs data, providing legal guidance on Brazilian regulations for foreign investors and expatriates, and enhancing legal certainty and the business climate. Since 2023, President Lula has met with Chinese President Xi Jinping three times, underscoring the growing bilateral rapport. Officials denied any connection between the office and the U.S.-Brazil trade spat.
Published on 2025-07-22

Brazil Trade Surplus Falls Below Expectations
Brazil recorded a trade surplus of $5.89 billion in June 2025, down from May's surplus of $7.02 billion and below market expectations of $6.45 billion. Exports rose 1.4% year-on-year to $29.14 billion, with manufacturing rising 10.9%, while agriculture fell 10.0% and mining and quarrying fell 6.2%. Imports rose 3.8% to $23.25 billion, driven by Manufacturing, up 5.5%, although Agriculture, down 2.8%, and Mining, down 20.9%, declined. Among the largest trading partners, exports to Argentina rose 70.8%, while imports rose 8.9%, but still resulted in a deficit of $0.52 billion. Exports to China rose by 2.5%, while imports increased by 5.2%, generating a deficit of $3.69 billion. Sales to the US grew by 2.4%, accompanied by an 18.5% increase in purchases, resulting in a deficit of $0.59 billion. Looking at the first six months of the year, exports fell 0.7%, while imports rose 8.3%, leading to a trade surplus of $30.1 billion.
Published on 2025-07-04

Brazil Trade Surplus Falls Below Expectations
Brazil recorded a trade surplus of $5.89 billion in June 2025, down from May's surplus of $7.02 billion and below market expectations of $6.45 billion. Exports rose 1.4% year-on-year to $29.14 billion, with manufacturing rising 10.9%, while agriculture fell 10.0% and mining and quarrying fell 6.2%. Imports rose 3.8% to $23.25 billion, driven by Manufacturing, up 5.5%, although Agriculture, down 2.8%, and Mining, down 20.9%, declined. Among the largest trading partners, exports to Argentina rose 70.8%, while imports rose 8.9%, but still resulted in a deficit of $0.52 billion. Exports to China rose by 2.5%, while imports increased by 5.2%, generating a deficit of $3.69 billion. Sales to the US grew by 2.4%, accompanied by an 18.5% increase in purchases, resulting in a deficit of $0.59 billion. Looking at the first six months of the year, exports fell 0.7%, while imports rose 8.3%, leading to a trade surplus of $30.1 billion.
Published on 2025-07-04

Brazil Trade Surplus Misses Expectations
Brazil recorded a trade surplus of $7.24 billion in May 2025, down from the April surplus of $7.64 billion and fell short of market expectations of $8.4 billion. Exports fell 0.1% yoy to $30.16 billion, with Agriculture down 0.6%, Extractive Industry down 6.6%, and Manufacturing up 3.4%. Meanwhile, imports increased 4.7% to $22.92 billion, driven by Manufacturing (9.5%), despite Agriculture (-0.6%) and Extractive Industry (-45.9%) contracting. Among the largest trade partners, exports to Argentina jumped 67.4% while imports rose 3.9%, resulting in a $0.54 billion surplus. Exports to China, Hong Kong and Macau fell 0.5% as imports rose 18.8%, generating a $4.14 billion surplus. Sales to the US grew 11.5% even as imports fell 5.0%, resulting in a $0.02 billion deficit. Considering the first five months of the year, exports declined 0.9% while imports jumped 9.2%, leading to a trade surplus of $24.43 billion.
Published on 2025-06-05

Brazil Trade Surplus Slightly Below Forecasts
Brazil recorded a trade surplus of $8.15 billion in April 2025, the largest since May 2024. This exceeded the March surplus of $7.76 billion but fell slightly short of expectations of an $8.3 billion surplus. Exports edged up 0.3% yoy to $30.4 billion, led by corn (105.5%), coffee (36.3%), spices (95.4%), stone, sand, and gravel (36.3%), copper (21.1%), nickel (5.8%), passenger vehicles (38.8%), and non-monetary gold (77.7%). Meanwhile, imports increased 1.6% to $22.26 billion due coffee (15,429.4%), cocoa (155.6%), natural latex, rubber (55.2%), crude fertilizers (175.1%). Among the largest trade partners, exports to Argentina jumped 45.2% but imports declined 19.9%. Also, shipments to China fell 6.7% but imports increased 7.7%. Meanwhile, sales to the US increased 21.9% and imports were up 14%, resulting in a $0.22 billion deficit. Considering the first four months of the year, exports declined 0.7% while imports jumped 10.4%, leading to a trade surplus to $17.73 billion.
Published on 2025-05-08

Brazil Trade Surplus Increases 13.8% in March
Brazil's trade surplus rose by 13.8% to $8.2 billion in March 2025, rebounding from the first trade gap since early 2022 in the previous month. Exports rose by 5.5% year-on-year to $29.18 billion, driven by a 10.1% surge in manufactured goods shipments to $15.32 billion, and agricultural exports soaring 16% to $8.22 billion, while extractive industry shipments fell 15.3% to $5.48 billion. Meanwhile, imports edged 2.6% higher to $21.02 billion, led by a 4.8% increase in manufacturing purchases to $19.36 billion and a 22.8% rise in agricultural imports to $0.58 billion.
Published on 2025-04-04

Brazil Trade Swings to Deficit
Brazil's trade balance swung to a deficit of $0.3 billion in February 2025, missing expectations of a $1.9 billion surplus and marking the first trade gap since early 2022, as imports surged while exports declined. Exports fell by 1.8% year-on-year to $22.93 billion, driven by a 26.4% plunge in extractive industry shipments to $4.25 billion, while manufactured goods rose 8.1% to $13.66 billion, and agricultural exports edged up 1.3% to $4.88 billion. Meanwhile, imports jumped 27.6% to $23.25 billion, led by a 31.0% increase in manufacturing purchases to $21.64 billion and a 30.4% rise in agricultural imports to $0.53 billion.
Published on 2025-03-07

Brazil Trade Surplus Plummets 65.1% in January
Brazil's trade surplus plummeted by 65.1% to $2.16 billion in January 2024, missing expectations of a $3 billion surplus, as imports rose while exports decreased. Exports fell by 5.7% year-on-year to $25.18 billion, driven by a 13.6% decline in in extractive industry shipments, totaling $7.07 billion, and a 10.1% drop in agricultural exports to $ 3.79 billion, while manufactured goods marginally increased by 0.1% to $14.18 billion. Meanwhile, imports rose 12.2% to $23.02 billion, led by a 13.4% increase in manufacturing purchases to $21.14 billion and a 20.3% surge in agricultural imports to $0.62 billion.
Published on 2025-02-07

Brazil Trade Surplus Shrinks 48.5% in December
Brazil's trade surplus shrank by 48.5% to $4.8 billion in December 2024, as imports rose and exports fell, though it exceeded expectations of a $3.9 billion surplus. Exports declined 13.5% year-on-year to $24.9 billion, driven by a 34.8% drop in extractive industry shipments to $5 billion and a 23.2% decrease in agricultural exports to $3.98 billion. Meanwhile, imports increased 3.3% to $20.1 billion, led by a 3.3% rise in manufacturing purchases to $18.64 billion and a 25.1% jump in agricultural imports to $0.47 billion.
Published on 2025-01-06

Brazil Trade Surplus Falls 20%, Misses Expectations
Brazil's trade surplus plummeted by 20% to $7.03 billion in November 2024, missing expectations of a $7.8 billion surplus, as imports rose at a faster pace than exports. Exports edged up by just 0.5% year-on-year to $28.02 billion, driven by a 10.9% rise in manufactured exports to $15.73 billion, and a 1.6% increase in extractive industry shipments, totaling $7.59 billion. However, agricultural exports plummeted 25.2% to $4.51 billion. Meanwhile, imports rose 9.9% to $20.99 billion, led by a 10.4% increase in manufacturing purchases to $19.24 billion and a 19.3% rise in agricultural imports to $0.42 billion.
Published on 2024-12-05