Brazil Faces Sharp Decline in March Trade Surplus

In March, Brazil experienced a notable 30.4% reduction in its trade surplus from February, landing at $7.48 billion.

A 14.8% decrease in exports, totaling $27.98 billion, and a 7.1% drop in imports to $20.50 billion contributed to this downturn.

The quarter ended with a $19.08 billion surplus, a 22.2% year-over-year increase. Exports grew by 3.2%, reaching $78.27 billion, while imports fell slightly by 1.8% to $59.19 billion.

Agricultural exports decreased by 20.8% to $7.14 billion. The extractive industry saw a more pronounced fall of 23.9%, summing up to $6.42 billion.

Manufacturing exports also declined by 6.2%, standing at $14.24 billion.

The agricultural sector was hit by significant sales drops in unprocessed rice (-99.9%), unground corn (-72.5%), and soybeans (-26.7%).

In the extractive industry, declines were marked in raw minerals (-54.0%), copper ores (-27.4%), and crude oil (-35.5%).

The manufacturing sector faced reductions in poultry meat and offal (-23.6%), soy meal and other animal feed (-23.8%), and iron-related exports (-36.6%).

However, Brazil boosted its exports to the United States by 21.3%, reaching $3.76 billion.

Exports to Argentina, China, Hong Kong, Macau, and the European Union saw decreases of 27.9%, 23.4%, and 31.6%, respectively.

This summary highlights Brazil’s trade performance in March, focusing on the key sectors and global trade partnerships affected during the period.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error