Brazil’s Trade Surplus Shrinks as Imports Rise and Export Prices Fall
Brazil’s trade surplus dropped sharply this year, according to official data from the Ministry of Development, Industry, Trade, and Services. In June 2025, Brazil recorded a surplus of $5.89 billion, which was less than expected and 7% lower than June 2024.
For the first half of 2025, the surplus fell almost 28% compared to the same period last year, reaching $30.1 billion. Exports grew only slightly, up 1.4% to $29.1 billion in June.
Higher coffee prices and more beef sales helped, but falling prices for soybeans, oil, and iron ore limited gains. Meanwhile, imports increased faster, up 3.8% to $23.3 billion.
Brazil bought more fertilizers, machinery, car parts, medicines, and airplanes. This faster growth in imports squeezed the trade balance. Because of these trends, the government lowered its forecast for Brazil’s 2025 trade surplus to $50.4 billion, down from $70.2 billion.
Officials expect imports to stay high and export prices to remain weak for the rest of the year. Brazil’s economy depends on selling commodities like soybeans, iron ore, oil, coffee, and meat.
When prices for these exports drop, the country earns less, even if it sells more. At the same time, strong domestic demand and lower tariffs have pushed up imports, especially of manufactured goods and equipment.
Trade with main partners also changed. Exports to Argentina rose by over 70%, but Brazil still imported more than it sold. Trade with China and the United States grew, but Brazil ran deficits with both countries as imports outpaced exports.
This shrinking surplus matters. It means Brazil is bringing in less money from exports while spending more on imports. If this continues, it could weaken Brazil’s currency and make it harder to pay for imports or foreign debts.
Many Brazilian jobs depend on exports, so lower export earnings can hurt employment and investment. The government uses trade surplus numbers to plan budgets and policies.
The sharp drop in the surplus forecast shows officials are cautious about the country’s economic outlook. All data and figures in this article come directly from official government sources.
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+0.46%
183,827.59
+0.46%
65,071.30
+0.20%
11,055.91
-0.73%
2,782,561
-0.59%
2,558.92
-0.79%
60,220.45
+0.32%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 183,827.59 | +0.46% | +21.85% | 182,991.13 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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