Brazil’s Exports Reach $208.3 Billion in 2024, Reports Ministry of Development

Brazilian exports have already totaled $208.3 billion in 2024, the Ministry of Development, Industry, Trade, and Services’ Foreign Trade Secretariat (Secex/MDIC) announced on Monday (August 12) during the release of the trade balance results for the second week of August. On a daily average basis, this represents a 1.1% increase compared to January-August 2023.

“This is excellent news,” commented MDIC Vice President and Minister Geraldo Alckmin. “Even in an adverse international scenario—with falling prices, commodity declines, a slowdown in global trade, protectionism, and regional conflicts—we have not only maintained last year’s export pace, which was already very good, but we are also growing. This demonstrates the strength of the Brazilian economy, which is recovering and delivering great results under our government, as well as the success of President Lula’s strategy of seeking new partnerships and markets around the world.”

Here is a historical comparison of Brazilian container exports for the first half of 2024 and the same months in the previous three years, based on data from DataLiner, Datamar’s market intelligence platform:

Brazilian Container Exports | Jan-Jun 2021 to Jan-Jun 2024 | TEU

Source: DataLiner (click here to request a demo)

The report released by Secex also showed that imports have grown year-to-date (up 4.9% on a daily average basis), reaching $155.9 billion. As a result, the total trade volume for the period was $364.2 billion, with a trade surplus of $52.3 billion.

Below is a comparison of Brazilian imports via containers for the first half of the year over the last four years, according to DataLiner:

Brazilian Container Imports | Jan-Jun 2021 to Jan-Jun 2024 | TEU

Source: DataLiner (click here to request a demo)

For the second week of August alone, the trade surplus was $1.8 billion, with exports totaling $6.8 billion and imports $5 billion, bringing the total trade volume to $11.8 billion.

So far in August, exports have reached $10 billion and imports $7.3 billion, resulting in a positive balance of $2.8 billion and a total trade volume of $17.3 billion.

Monthly Comparison

Comparing export averages up to the second week of August 2024 ($1.4 billion) with those of August 2023 ($1.3 billion), there was a 6.3% increase. In terms of imports, the same comparison showed an 11.6% increase ($1 billion daily average in 2024, compared to $933.41 million in 2023).

Thus, up to the second week of August 2024, the daily average trade volume reached $2.5 billion, and the daily average trade surplus was $395.75 million. When compared to the August 2023 average, this represents an 8.4% increase in trade volume.

Exports and Imports by Sector and Products

For the year up to the second week of August, the daily average performance by sector was as follows: a decrease of $56.6 million (-17.1%) in Agriculture; an increase of $101.57 million (32.5%) in the Extractive Industry; and an increase of $42.45 million (6.1%) in Manufactured Goods.

As for imports, the daily average performance by sector showed a $4.37 million (27.2%) increase in Agriculture, a $12.36 million (-24.8%) decrease in the Extractive Industry, and a $114.68 million (13.3%) increase in Manufactured Goods.

Source: Informativo dos Portos

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