Exports of Manufactured Goods from Brazil Reach Highest Value Since 1997

The Foreign Trade Secretariat of the Ministry of Development, Industry, Trade, and Services (Secex/MDIC) presented the results of Brazil’s 2024 trade balance on Monday (January 6). Total exports reached USD 337 billion, while the trade flow amounted to USD 599.5 billion, marking a 3.3% increase compared to 2023. Imports totaled USD 262.5 billion, resulting in a positive balance of USD 74.6 billion. The highlight of the year was the record performance of exports of manufactured goods, with exports reaching USD 181.9 billion in 2024—the highest level since 1997.

This achievement reflects the Brazilian government’s efforts to implement public policies to strengthen national production. Vice President and MDIC Minister Geraldo Alckmin said, “The MDIC has been working on projects to stimulate Brazilian industrial production and elevate the country to a higher level in international trade.”

Foreign Trade Secretary Tatiana Prazeres celebrated the results, emphasizing that “Brazil’s trade balance reached unprecedented levels in 2023 and 2024, with record exports and historic surpluses.” She also highlighted that the 2024 surplus is expected to position Brazil among the world’s top 10. Additionally, she noted that the 3.3% increase in Brazil’s trade flow underscores the country’s growing integration into the global economy, with exports continuing to play a crucial role in driving national economic growth.

In December 2024, exports totaled USD 24.9 billion, while imports reached USD 20.1 billion, resulting in a positive balance of USD 4.8 billion and a trade flow of USD 45 billion. Despite the surplus, the trade flow decreased by 6.7% compared to December 2023 due to a 13.5% decline in exports during the same period.

From January to December 2024, exports decreased slightly by 0.8% compared to 2023, dropping from USD 339.7 billion to USD 337 billion. Meanwhile, imports grew by 9%, rising from USD 240.8 billion in 2023 to USD 262.5 billion in 2024, indicating stronger demand for imported goods.

Regarding sectoral performance, December 2024 saw a decline in exports of agricultural products (-23.2 %, or USD 1.21 billion) and extractive industry goods (-34.8 %, or USD 2.67 billion), while manufactured goods exports remained stable compared to December 2023. For the January-to-December period, agricultural exports fell by 11% (USD 9 billion), while the extractive industry grew by 2.4% (USD 1.93 billion), and the manufacturing industry advanced by 2.7% (USD 4.81 billion).

On the import side, December 2024 showed an increase in agricultural products, up 25.1% (USD 0.09 billion), while extractive industry imports dropped by 10.5% (USD 0.09 billion). Manufacturing industry imports rose by 3.3% (USD 0.59 billion) compared to the same month in 2023. Over the year, agricultural imports rose by 25.6% (USD 1.15 billion), extractive industry imports increased by 1% (USD 0.16 billion), and manufacturing industry imports grew by 9.3% (USD 20.4 billion).

The 2024 figures reinforce the resilience and importance of Brazil’s manufacturing industry as a key driver of national exports. They also reflect the positive impacts of policies aimed at enhancing Brazil’s economy’s competitiveness on the global stage.

Source: Agencia Gov

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