Brazil’s trade balance surplus narrowed sharply in January 2026, with the indicator easing to $4.34 billion, according to data updated on 5 February 2026. This marks a notable decline from the previous recorded surplus of $9.63 billion in November 2025.
The latest figures indicate that Brazil’s external trade position has weakened at the start of the year compared with late 2025. While the country continues to post a positive trade balance, the near-halving of the surplus between November and January suggests a significant shift in the dynamics between exports and imports during this period.
