Brazil Trade Surplus Hits US$7.74 Billion in September
Brazil recorded a 146.4% increase in its September trade surplus despite new US tariffs and a decline in exports to China.
The Ministry of Development, Industry, Trade and Services reported that Brazil achieved a trade surplus of US$7.74 billion in September 2026, marking a 146.4% increase over September 2025. Exports rose 12.9% to US$34.42 billion, fueled primarily by crude oil and copper ore, while imports decreased 2.4% to US$26.68 billion.
Trade dynamics shifted across major partners. Exports to the European Union surged 60.1%, and sales to the United States grew 31.9% to US$3.52 billion. This growth occurred despite a 25% tariff imposed by the Office of the US Trade Representative on July 22, 2026. Conversely, exports to China fell by 7.6%.
Despite the strong monthly performance, the Brazilian trade ministry lowered its full-year 2026 surplus forecast to US$84.4 billion from an initial estimate of US$90.0 billion. Diplomatic tensions remain high as Brazil contests a 12.5% duty related to forced-labor enforcement and evaluates potential retaliation under its Reciprocity Law.
