LatinNews Daily - 7 January 2025

*Brazil’s ministry for development, industry, trade, and services (MDIC) has released its latest trade figures, which show a monthly trade surplus of US$4.8bn in December 2024 and an annual surplus of US$74.6bn. This monthly figure is down 48.5% compared to December 2023, and the annual figure is down 24.6% from the previous year. Exports in December totalled US$24.9bn, down 13.5% year-on-year and the monthly import value came to US$20.1bn, up 3.3%. The annual figures also showed a drop in exports and rise in imports. The total export value for 2024 came to US$337.0bn, down 0.8%, and imports came to US$262.5bn, up 9.0%. Brazil’s annual agricultural exports were down 11.0% to reach US$72.5bn, while extractives industries were up 2.4% to reach US$80.9bn and manufacturing exports were up 2.7% to total US$181.9bn. Regarding Brazil’s top export destinations, the annual export values to China and Argentina were down 9.3% and 17.6% respectively (and worth US$96.0bn and US$13.8bn respectively), while exports to the US were up 9.2% to reach US$40.3bn.

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