Overview In October 2023 Brazil exported $29.5B and imported $20.5B, resulting in a positive trade balance of $8.96B. Between October 2022 and October 2023 the exports of Brazil have increased by $2.63B (9.8%) from $26.9B to $29.5B, while imports decreased by $-2.95B (-12.6%) from $23.5B to $20.5B.
Trade In October 2023, the top exports of Brazil were Crude Petroleum ($4.02B), Soybeans ($2.89B), Iron Ore ($2.76B), Corn ($1.91B), and Raw Sugar ($1.5B). In October 2023 the top imports of Brazil were Refined Petroleum ($1.48B), Crude Petroleum ($1.13B), Motor vehicles; parts and accessories (8701... ($635M), Cars ($579M), and Gas Turbines ($554M).
Origins In October 2023 the exports of Brazil were mainly from São Paulo ($6.25B), Rio de Janeiro ($4.01B), Minas Gerais ($3.27B), Rio Grande do Sul ($2.21B), and Não Declarada ($2.03B), while imports destinations were mainly São Paulo ($6.42B), Rio de Janeiro ($2.37B), Santa Catarina ($2.19B), Minas Gerais ($1.47B), and Paraná ($1.44B).
Destinations In October 2023, Brazil exported mostly to China ($8.97B), United States ($3.35B), Netherlands ($1.26B), Argentina ($1.26B), and Chile ($837M), and imported mostly from China ($4.54B), United States ($3.46B), Argentina ($1.1B), Germany ($1.07B), and Russia ($832M).
Growth In October 2023, the increase in Brazil's year-by-year exports was explained primarily by an increase in exports to China ($2.37B or 35.8%), United States ($196M or 6.21%), and Mexico ($177M or 29.3%), and product exports increase in Crude Petroleum ($1.06B or 35.7%), Iron Ore ($925M or 50.3%), and Soybeans ($559M or 24%). In October 2023, the decrease in Brazil's year-by-year imports was explained primarily by an decrease in imports from United States ($-1.09B or -23.9%), China ($-933M or -17%), and Saudi Arabia ($-316M or -62.1%), and product imports decrease in Refined Petroleum ($-755M or -33.8%), Pesticides ($-299M or -36%), and Semiconductor Devices ($-209M or -36.4%).
