Brazil posts trade surplus of more than $7 billion in July

Brazil recorded a trade surplus of just over $7 billion in July 2026, with exports totaling $34.1 billion and imports reaching $27.1 billion, according to data updated on Thursday, August 6, by the Ministry of Development, Industry, Trade and Services (MDIC).

Total trade flow, the sum of exports and imports, reached $61.17 billion in the month, up 6.8% from July 2025. Exports rose 6.2%, while imports increased 7.6% year on year.

Most traded products

According to MDIC, export growth was supported by gains across several sectors.

Agricultural exports rose 9.3%, driven mainly by soybean sales, which increased by about $870 million. Extractive industry exports also advanced, led by crude oil, up $960 million. In manufacturing, the highlight was fuel oils, with exports rising by $960 million. In percentage terms, fuel oil exports increased by more than 63%.

On the import side, July’s increase was driven mainly by higher purchases of petroleum fuel oils, up $500 million; automatic data-processing machines and related units, up $320 million; medicines and pharmaceutical products, excluding veterinary products, up $320 million; valves and tubes, including thermionic, cold-cathode and photo-cathode tubes, as well as diodes and transistors, up $290 million; and ethylene polymers in primary forms, up $150 million.

Trading partners

China remained Brazil’s largest trading partner in July, accounting for almost one-third of Brazilian exports during the month. Shipments to China totaled more than $10.7 billion, up 8.6% from July 2025.

The United States ranked second, receiving 10.7% of Brazilian exports in July. Shipments to the U.S. fell 5% from the same month last year.

The decline in exports to the United States in July does not yet reflect the effects of the new U.S. tariff increase, which only took effect on July 22 and is expected to affect August sales. Those figures will be released in early September.

Brazilian exports to Argentina also fell in July, dropping by nearly $230 million, or 13.9%, compared with July 2025.

Although not directly related, the result came as the governments of the two neighboring countries entered a new period of tension following repeated public attacks by Argentine President Javier Milei against Brazilian President Luiz Inácio Lula da Silva. The dispute led Brazil’s Foreign Ministry to downgrade diplomatic relations with Buenos Aires.

Year-to-date results

From January to July, Brazil posted a trade surplus of $49 billion, with both exports and imports expanding from the same period last year.

In the first seven months of 2026:

• exports totaled $218.6 billion, up 10.5%;
• imports totaled $169.5 billion, up 5.5%;
• total trade flow reached $388.1 billion, up 8.2%;
• the trade balance posted a surplus of $49 billion.

Source: Agência Brasil

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