Business · Trade · 5 hrs ago
Brazil's trade surplus rose 34.8% to $62.4 billion through September
Brazil recorded a $62.4 billion trade surplus from January to September 2026, up 34.8% from the same period a year earlier.
The surplus means the country exported more goods than it imported: exports reached $284.65 billion, while imports totaled $222.26 billion.
Higher exports drove the increase, including sales to China and the European Union, which grew 12% and 20%, respectively.
Oil was a major factor, and higher prices linked to the worsening war in the Middle East helped raise export earnings.
The figures do not necessarily mean the economy is stronger: experts said falling imports may reflect weaker investment and domestic demand, while high interest rates may also weigh on activity.
The government cut its 2026 surplus forecast to $84.4 billion, from $90 billion, partly because it expects lower oil prices.
The outlook will depend on overseas demand and commodity prices, while experts say Brazil needs to improve export competitiveness and diversify beyond basic commodities.
Brazil recorded a trade surplus of $62.4 billion from January through September 2026, up 34.8% from the same period a year earlier.
Exports totaled $284.65 billion, up 10.4%, while imports reached $222.26 billion, up 5%.
The Ministry of Development, Industry, Trade and Services said export growth was the main factor behind the surplus.
Analysts cited higher oil prices and commodity exports, while cautioning that a large surplus does not necessarily indicate stronger economic activity.
The ministry lowered its 2026 surplus forecast from $90 billion to $84.4 billion.
- Who
- Brazil’s Ministry of Development, Industry, Trade and Services reported the figures.
- What
- Brazil’s trade surplus reached $62.4 billion, a 34.8% increase.
- When
- January through September 2026.
- Where
- Brazil.
- Why
- Export growth outpaced import growth; analysts also pointed to commodity exports and higher oil prices.
This story does not have two clearly opposing sides.
Brazil recorded a trade surplus of $62.4 billion, with exports totaling $284.65 billion and imports $222.26 billion.
The monthly surplus reached $7.74 billion, up 146.4% from a year earlier.
Brazil recorded a surplus of $3.48 billion over seven business days.
Exame reported the figures and the ministry’s revised 2026 surplus forecast of $84.4 billion.
- Surplus, January–September
- $62.4 billion
- Year-on-year increase
- 34.8%
- Exports, January–September
- $284.65 billion
- Imports, January–September
- $222.26 billion
- Revised 2026 surplus forecast
- $84.4 billion
What people are saying
The main driver was oil [...] The worsening war in the Middle East raised average barrel prices. In other words, much of the surplus came from price, not just volume.
The growth in the surplus is mainly explained by exports advancing at a faster pace than imports.
A high surplus does not necessarily mean greater economic dynamism.