*Brazil’s ministry for development, industry, trade, and services has released its trade figures for January, showing a monthly surplus of US$2.2bn. This marks a 65.1% decrease from the surplus registered in the same month last year. The total value of exports in January this year came to US$25.2bn, down 5.7% year-on-year, while monthly imports totalled US$23.0bn, up 12.2% from January 2024. Agricultural exports were down 10.1%, totalling US$3.8bn this January, while extractives industries registered an even greater yearly drop, registering a monthly export value of US$7.1bn, down 13.6% from January last year. The manufacturing sector posted a slight year-on-year rise of 0.1%, with monthly exports totalling US$14.2bn. Regarding Brazil’s top export destinations, monthly exports to China were down 29.7%, with a total export value of US$5.6bn. Exports to the US totalled US$3.2bn, down 4.3% year-on-year. Meanwhile, monthly exports to Argentina rose to US$1.2bn this January, up 57.9% from January 2024.
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LatinNews Daily - 10 February 2025
In brief: Brazil’s trade surplus down in January
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