Exports to the U.S. Grew 11.5% in May, While Imports Fell 5%

Despite the tensions caused by the tariff hikes implemented by Donald Trump’s administration, Brazilian exports to the United States rose 11.5% in May. On the other hand, purchases of U.S. goods fell by 5% during the same period.

The percentages reflect a comparison with the same month in the previous year. Still, Brazil’s trade balance with the U.S. showed a deficit of US$ 0.02 billion.

From January to May 2025, Brazil’s exports to the U.S. totaled US$16.69 billion, while imports reached US$17.73 billion.

Below is a historical overview of cargo throughput to the United States. The chart was prepared using DataLiner data:

Cargo Throughput to United States | Jan 2022 – Apr 2025 | TEUs

Source: DataLiner (click here to request a demo)

The data was released this Thursday (June 5) by the Ministry of Development, Industry, Trade and Services (MDIC).

China and the EU
In the case of China, Hong Kong, and Macau, exports decreased by 0.5%, while imports increased by 18.8%. As a result, the trade balance with this economic partner was positive by US$ 4.14 billion.
In contrast, exports to the European Union fell 5.9%, and imports from the bloc also declined by 0.4% in May. This resulted in a trade surplus of US$ 0.28 billion with the EU.

Total Surplus of US$ 7.2 Billion
Brazil’s trade balance posted a surplus (when exports exceed imports) of US$7.2 billion in May, representing a 12.8% decrease compared to the same month in the previous year.

This was the lowest result for May since 2022 when the trade surplus stood at US$ 4.9 billion. In 2023 and 2024, the surplus was US$ 10.9 billion and US$ 8.3 billion, respectively.

From January to May 2025, the trade balance has accumulated a positive balance of US$ 24.4 billion. So far this year, exports totaled US$136.9 billion (a 0.9% decrease), while imports reached US$112.5 billion (a 9.2% increase).

Trade Balance Outlook for 2025

• Projected exports for the year: US$ 353.1 billion, compared to US$ 337 billion in 2024.
• Projected imports for 2025: US$ 282.9 billion, compared to US$ 262.9 billion last year.
• Projected trade surplus: US$ 70.2 billion, down from the US$ 74.2 billion recorded in 2024.
• According to the federal government, Brazil’s foreign trade is expected to remain “relatively stable” in 2025. There is also an expectation of growth in the country’s agricultural harvest this year.

In May, according to MDIC:

• Exports fell 0.1%, totaling US$ 30.15 billion.
• Imports rose 4.7%, totaling US$22.92 billion.

The drop in exports was mainly driven by decreased sales of the following products: corn, soybeans, cotton, iron ore, precious metal ores, oil, poultry meat, sugar and molasses, and fuel oils.
The growth in imports was influenced by increased purchases of products such as barley, cocoa, latex, aluminum ores, chemical fertilizers, and passenger motor vehicles.

Source: Metrópoles

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