*Brazil’s ministry of development, industry, trade & services has released its figures for the country’s trade balance in October, which showed a trade surplus of US$4.34bn, with a total export value of US$29.46bn and an import value of US$25.12bn. This latest monthly trade surplus is down 52.7% compared to the same month last year. October 2024 is the sixth consecutive month that Brazil has registered a year-on-year drop in its trade surplus and the third consecutive month in which exports were down in yearly terms. The latest monthly export value registered a decrease of 0.7% compared to October 2023, with exports from the agricultural sector and extractive industries down 12.8% and 14.5% respectively. Meanwhile, the manufacturing sector registered a 10.9% yearly rise in its export value. Exports to China, Hong Kong, and Macau, Brazil’s largest trade partner, were also down in October, with an export value of US$7.12bn, down 22.8% year-on-year.
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