Brazil posts trade surplus of US$ 5.45 billion, highest result for February

Brazilian exports surged by 17.4% in the first two months of 2024 compared to the same period last year, according to government data released on Wednesday (6/3) by the Secretariat of Foreign Trade of the Ministry of Development, Industry, Trade, and Services (Secex/MDIC).

In total, exports reached $50.51 billion in January and February, up from $43.04 billion last year. Meanwhile, imports grew by 1%, rising from $38.18 billion in 2023 to $38.56 billion now. Consequently, the total trade balance reached $89.07 billion, a growth of 9.7%.

The positive balance of $11.94 billion set a record for the period, marking a 145.9% increase from the previous two months ($4.86 billion) and a 77.7% surge from the previous record in 2017 ($6.7 billion).

February

The February figures show that Brazil broke records in both exports and trade balance. Exports totaled $23.538 billion, a 16.3% increase compared to the same month last year and slightly above the previous record of $23.513 billion in 2022.

Imports reached $18.091 billion, up 2.4% from February 2023 ($17.67 billion).

As a result, the total trade balance for February amounted to $41.629 billion, with a surplus of $5.45 billion, the highest in the historical series for February months. This surplus was 17.6% higher than the previous record ($4.6 billion) set in February 2022 and 111.8% above the balance in February 2023.

Compared to February 2023, there was a 9.8% increase in the total trade balance.

All details of the trade balance results are available on the Foreign Trade Statistics page of the Secretariat of Foreign Trade of the Ministry of Development, Industry, Trade, and Services (Secex/MDIC).

Sectors and Products

In February 2024, compared to the same month of the previous year, the performance of exports by sectors was as follows: a growth of $0.5 billion (11.5%) in Agriculture; a growth of $2.25 billion (63.9%) in Extractive Industry; and a growth of $0.6 billion (5.0%) in products of the Manufacturing Industry.

January/February 2024: In the year-to-date, compared to the same period of the previous year, the performance of exports by sectors was as follows: a growth of $1.22 billion (15.5%) in Agriculture; a growth of $5.18 billion (58.6%) in Extractive Industry; and a growth of $1.12 billion (4.3%) in products of the Manufacturing Industry.

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