In mid-August, Brazil recorded a trade surplus of US$41.75 billion, a drop of 18.3% compared to the same period last year, according to data from the Brazilian federal government.

This result is due to more imports (up by 8.7%) and fewer exports (up by 2.3%). José Augusto de Castro, president of the Brazilian Foreign Trade Association, commented that the trend for the coming months would be even worse, given that exports are losing momentum due to US tariffs while imports are rising.

The president expects the country to record a trade surplus of US$49 billion by 2025, less than his previous estimate of US$54 billion. In 2024, the country recorded a surplus of US$74.6 billion.