Brazil Eyes Quick Trade Accord with U.S.

Brazil’s trade surplus widened to USD 9.76 billion in June 2026 from USD 5.86 billion a year earlier, though it fell short of market expectations for a USD 9.9 billion surplus. Exports jumped 24.9% year-on-year to USD 36.28 billion, driven by strong gains in extractive industries (58.4%), alongside growth in manufacturing (14.7%) and agriculture (18.0%). Shipments to China rose 24.4%, while exports to the European Union and the US increased 43.0% and 3.7%, respectively, although exports to Argentina fell 18.1%. Imports climbed 14.4% to USD 26.52 billion, supported by manufacturing (14.3%) and extractive industries (25.0%), with purchases from China rising 27.1% while imports from the US declined 12.3%. In the first half of 2026, exports increased 11.5% and imports 5.1%, lifting the cumulative trade surplus to USD 42.36 billion, up 40.3% from a year earlier.

Brazil’s trade surplus widened to $7.82 billion in May 2026, up 10.8% from a year earlier and above market expectations of $7.65 billion. Exports rose 6.6% year-on-year to $31.90 billion, driven by stronger shipments from agriculture (9.8%) and manufacturing (9.0%), which more than offset a 1.9% decline in extractive industries. Higher exports of corn, soybeans, cotton, beef, fuel oils, and gold supported the increase, while shipments of coffee, iron ore, crude oil, sugar, and cellulose fell. Imports increased 5.3% to $24.08 billion, mainly due to a 6.3% rise in manufacturing purchases, led by fuel oils, semiconductors, and passenger vehicles. Trade with China remained strong, with exports rising 9.5% and imports surging 24.2%, while exports to the EU increased 8.8%. In contrast, exports to the US fell 14.0% and shipments to Argentina dropped 21.7%. In January-May, exports rose 8.7% and imports increased 3.2% from a year earlier.

Brazil posted a $10.5 billion trade surplus in April 2026, up 37.5% from a year earlier, as exports rose 14.3% to $34.15 billion while imports increased 6.2% to $23.61 billion. Agricultural exports climbed 16.1% to $9.23 billion, extractive industry shipments rose 17.9% to $8.28 billion, and manufacturing exports advanced 11.6% to $16.44 billion. Exports to China surged 32.5% to $11.61 billion, while sales to Argentina fell 18.5% and exports to the US declined 11.3%. On the import side, manufacturing purchases rose 7.4% to $21.93 billion, while agricultural imports dropped 25.8%. Imports from China increased 20.7% to $6.05 billion and purchases from Argentina rose 21.2%, while imports from the US fell 18.1%.