Brazil’s trade surplus widened to $7.82 billion in May 2026, an increase of 10.8% from a year earlier and above market expectations of $7.65 billion. Exports grew 6.6% year-on-year to $31.90 billion, supported by stronger sales from agriculture (up 9.8%) and manufacturing (up 9.0%), which more than offset a 1.9% decline in the extractive industries.
The export expansion was driven by higher shipments of corn, soybeans, cotton, beef, fuel oils, and gold, while exports of coffee, iron ore, crude oil, sugar, and cellulose declined. Imports rose 5.3% to $24.08 billion, largely reflecting a 6.3% increase in manufacturing purchases, led by fuel oils, semiconductors, and passenger vehicles.
Trade with China remained robust: exports to China climbed 9.5%, and imports from China surged 24.2%. Exports to the European Union also advanced, rising 8.8%. By contrast, exports to the United States fell 14.0%, and shipments to Argentina contracted 21.7%.
Over the January–May period, exports increased 8.7% year-on-year, while imports rose 3.2%.
