05.06.202518:15:48UTC+00Brazil Trade Surplus Misses Expectations

In May 2025, Brazil experienced a trade surplus of $7.24 billion, marking a decline from the $7.64 billion surplus recorded in April and not meeting the market's anticipated $8.4 billion. Export figures saw a slight decrease of 0.1% year-on-year, amounting to $30.16 billion. This was characterized by a 0.6% decrease in agricultural exports, a notable 6.6% decrease in the extractive industry, and a 3.4% growth in manufacturing exports. Conversely, imports rose by 4.7% to $22.92 billion, with manufacturing imports increasing significantly by 9.5%, despite reductions in agriculture (-0.6%) and the extractive industry (-45.9%).

Focusing on major trade partners, exports to Argentina surged by 67.4%, while imports increased by 3.9%, resulting in a $0.54 billion surplus. Exports to China, including Hong Kong and Macau, experienced a slight drop of 0.5%, yet imports increased by 18.8%, culminating in a surplus of $4.14 billion. Trade with the United States showed an 11.5% increase in exports, although imports decreased by 5.0%, resulting in a slight deficit of $0.02 billion.

Looking at the data from the first five months of the year, exports contracted by 0.9%, whereas imports rose sharply by 9.2%, resulting in a cumulative trade surplus of $24.43 billion.