Ore Sector Sustains Brazil’s Trade Surplus in Q1 2025

The mining sector significantly boosted Brazil’s trade balance in the first quarter 2025. From January to March, the mineral trade surplus reached USD 7.68 billion, accounting for 77% of the country’s total trade surplus of USD 9.98 billion, according to the Brazilian Mining Institute (Ibram).

Mineral exports alone totaled USD 9.3 billion, while imports stood at USD 1.6 billion during the same period.

China remained the top destination for Brazilian ore, absorbing 68% of the sector’s exports. On the import side, the United States led with 20.8%, followed by Russia (19.3%), Australia (11.5%), and Canada (9.3%), according to CNN Brasil.

Ibram also reported that the mining sector’s revenue reached BRL 73.8 billion in Q1, an 8.6% year-over-year increase. Iron ore accounted for 53% of this revenue.

So far in 2025, the sector has created 2,000 new jobs and generated BRL 25.5 billion in taxes and royalties—an increase of about 8%.

According to Ibram’s CEO, Raul Jungmann, the sector’s performance is expected to remain stable compared to 2024, despite ongoing global market uncertainties.

Source: BP Money

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