Record-Breaking Brazilian Exports: July and Year-to-Date

Brazil broke export records last month and in the year-to-date period (January to July), according to data released on Tuesday (6/8) by the Foreign Trade Secretariat of the Ministry of Development, Industry, Commerce and Services (Secex/MDIC).

In July, exports totaled US$30.9 billion, a 9.3% increase over July 2023. Imports reached US$23.3 billion, marking a 15.7% rise compared to the same month last year. Consequently, the trade flow amounted to US$54.2 billion, resulting in a surplus of US$7.6 billion.

For the year-to-date period, Brazil recorded US$198.2 billion in exports, a 2.4% growth compared to the first seven months of 2023, and US$148.6 billion in imports, reflecting a 5.6% increase. The trade flow for this period was US$346.8 billion, with a surplus of US$49.6 billion.

Monthly Trade Balance – Consolidated Data July/2024

Exports by Sector and Product

In July, compared to the same month in 2023, exports increased by US$0.55 billion (8.3%) in Agriculture, US$0.73 billion (11.5%) in the Extractive Industry, and US$1.34 billion (8.9%) in Manufacturing Industry products.

For the year-to-date period, compared to the same period in 2023, the sector performance was as follows: a decrease of US$ 3.03 billion (6.1%) in Agriculture, an increase of US$ 8 billion (19.5%) in the Extractive Industry, and a slight decrease of US$ 0.05 billion (0.04%) in Manufacturing Industry products.

Imports by Sector and Product

In July alone, imports increased by US$0.13 billion (35.9%) in Agriculture, decreased slightly by US$0.02 billion (-1.1%) in the Extractive Industry, and rose by US$3.05 billion (16.8%) in Manufacturing Industry products.

For the year-to-date period, the sector performance compared to the accumulated total for 2023 was as follows: an increase of US$0.73 billion (27.6%) in Agriculture, a decrease of US$0.32 billion (-3.2%) in the Extractive Industry, and an increase of US$7.63 billion (6%) in Manufacturing Industry products.

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