FX.co ★ Brazil’s Trade Balance Rebounds in February

Brazil recorded a trade surplus of USD 4.21 billion in February 2026, reversing a USD 0.467 billion deficit in the same month a year earlier, though slightly below market expectations of USD 4.23 billion. Exports increased 15.6% year-on-year to USD 26.31 billion, supported by strong gains in mining (up 55.5%) and agriculture (up 6.1%), with iron ore, copper ores, crude oil, corn, soybeans, and beef as the main drivers. Imports declined 4.8% to USD 22.10 billion, reflecting steep drops in agriculture (-20%) and manufacturing (-4%), especially in wheat, corn, and machinery, partly offset by higher purchases of live animals, soybeans, and passenger vehicles. By destination, exports to China jumped 38.7% and to the European Union 34.7%, while shipments to Argentina fell 26.5% and to the United States 20.3%.