Brasil Balança Comercial

Brazil's trade surplus plummeted by 65.1% to $2.16 billion in January 2024, missing expectations of a $3 billion surplus, as imports rose while exports decreased. Exports fell by 5.7% year-on-year to $25.18 billion, driven by a 13.6% decline in in extractive industry shipments, totaling $7.07 billion, and a 10.1% drop in agricultural exports to $ 3.79 billion, while manufactured goods marginally increased by 0.1% to $14.18 billion. Meanwhile, imports rose 12.2% to $23.02 billion, led by a 13.4% increase in manufacturing purchases to $21.14 billion and a 20.3% surge in agricultural imports to $0.62 billion.