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Brazil’s trade balance posts USD 7.74B surplus in September

Buoyed by oil, fuels, soybeans, and copper, Brazil’s trade balance posted a surplus of USD 7.74 billion in September, more than double the figure recorded in September 2025 (USD 3.14 billion). This performance was driven by export growth, which increased 12.9 percent during the period, according to data released on Tuesday (Oct. 6) by the Ministry of Development, Industry, Trade, and Services. Notícias relacionadas:Brazil’s balance of trade posts USD 7.4 billion surplus in August.Brazil’s July trade balance posts USD 7B surplus.It was the second-highest surplus for the month, second only to September 2023 (USD 9.18 billion). Key figures: Surplus: USD 7.74 billion (+146.4% compared with September 2025); Exports: USD 34.42 billion (+12.9%); Imports: USD 26.68 billion (-2.4%); The trade balance - the sum of exports and imports - reached USD 61.09 billion, the highest figure recorded for September in the historical series and the second-highest for any month, second only to June of this year (USD 61.99 billion). Export growth The increase in exports was led by the extractive industry, followed by the manufacturing sector and agribusiness. Extractive industry: USD 9.44 billion (+39.8% compared with September 2025); Manufacturing: USD 17.67 billion (+5.3%); Agriculture and livestock: USD 7 billion (+4.8%). Featured products: Extractive industry: crude oil (+77.3% compared with September last year), copper ore (+74.2%); Manufacturing: soybean meal (+47.7%), fuels (+39.1%); Agriculture and livestock: soybeans (+11.9%), unroasted coffee (+8.7%), rye and oats (from USD 407,000 to USD 127.8 million, a 31,200% increase due to differences in the shipping schedule). In the case of oil, increased production and a 24.7 percent rise in average prices, following the escalation of the war in the Middle East, boosted exports. Sales destinations Exports grew to most of Brazil’s major markets, including the United States, despite trade tensions between the two countries. However, they fell to Asia and remained stable to South America. Exports by region: Europe: USD 8.3 billion (+51.9%) North America: USD 5.2 billion (+30.6%) South America: USD 4.2 billion (stable) Asia: USD 17.4 billion (-2.5%) Sales to the United States rose 31.9 percent in September, despite the imposition of new tariffs on Brazilian products. However, they fell 6.5 percent year-to-date. For the European Union, the growth can be attributed to the agreement with Mercosur, which is boosting sales - particularly of food products - to the bloc. Imports Brazilian imports declined slightly in September (-2.4%), driven mainly by a drop in capital goods (-29.8%) and intermediate goods (-2.4%). In the case of capital goods, the economic slowdown caused by high interest rates is reducing investment by the manufacturing sector, the main purchaser of machinery. 2026 year-to-date From January through September, the trade balance recorded a surplus of USD 62.4 billion. The period recorded: Exports: USD 264.65 billion (+10.4%) Imports: USD 222.26 billion (+5%) Trade balance: USD 62.4 billion (+34.8%) Projections Despite the growth in exports, the Ministry of Development, Industry, Trade, and Services has revised its 2026 projection downward. The estimated trade surplus has been lowered from USD 90 billion to USD 84.4 billion. Even with this decline, the result would be the second-highest annual figure since the historical series began in 1989. It would be surpassed only by 2023 (USD 98.8 billion).