Brasil Balança Comercial

Brazil's trade balance swung to a deficit of $0.3 billion in February 2024, missing expectations of a $1.9 billion surplus and marking the first trade gap since early 2022, as imports surged while exports declined. Exports fell by 1.8% year-on-year to $22.93 billion, driven by a 26.4% plunge in extractive industry shipments to $4.25 billion, while manufactured goods rose 8.1% to $13.66 billion, and agricultural exports edged up 1.3% to $4.88 billion. Meanwhile, imports jumped 27.6% to $23.25 billion, led by a 31.0% increase in manufacturing purchases to $21.64 billion and a 30.4% rise in agricultural imports to $0.53 billion.