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Brazil’s trade balance in September recorded a surplus of $5.363 billion, with exports totaling $28.789 billion and imports amounting to $23.426 billion. The total trade volume reached $52.215 billion. The Foreign Trade Secretariat of the Ministry of Development, Industry, Commerce, and Services (Secex/MDIC) released these figures on Friday (October 4).
Year-to-date (January to September), exports totaled $255.456 billion, marking a 0.8% increase compared to the same period last year, while imports reached $196.338 billion, representing an 8% growth. The positive balance stood at $59.119 billion, and the total trade volume increased by 3.8% to $451.794 billion.
In September, compared to the same month last year, exports grew by 0.3%. Imports saw a 19.9% increase, resulting in an 8.2% rise in trade volume for the period.
Exports by Sector and Products
In September 2024, compared to the same month last year, the sector-by-sector performance was as follows: a decline of $0.79 billion (-12.1%) in Agriculture; a drop of $1.53 billion (-19.8%) in the Extractive Industry; and an increase of $2.4 billion (16.8%) in Manufacturing Industry products.
For the year-to-date, compared to the same period last year, the performance by sectors was as follows: a decline of $5.35 billion (-8.4%) in Agriculture; an increase of $5.95 billion (10.6%) in the Extractive Industry; and an increase of $1.94 billion (1.5%) in Manufacturing Industry products.
Imports by Sector and Products
In September 2024, compared to the same month last year, the performance of each sector of the economy was as follows: an increase of $0.07 billion (18.9%) in Agriculture; an increase of $0.49 billion (45.9%) in Extractive Industry; and an increase of $3.32 billion (18.5%) in Manufacturing Industry products.
Year-to-date, compared to the same period last year, the performance by sectors was as follows: an increase of $0.87 billion (25.6%) in Agriculture; an increase of $0.42 billion (3.4%) in the Extractive Industry; and an increase of $13.4 billion (8.1%) in Manufacturing Industry products.
2024 Forecast
The fourth and final MDIC forecast for the 2024 trade balance estimates exports of $335.7 billion, representing a slight decrease of 1.2% compared to last year. Projected imports stand at $264.3 billion, 10.2% higher than in 2023. This results in a forecasted trade surplus of $70 billion, the second-highest in the historical series, though 28.9% lower than the record $98.9 billion surplus in 2023.
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