MercoPress. South Atlantic News Agency

Brazil finds other markets for its exports amid US restrictions

Although Brazil's exports to the United States fell 20.3% yoy in September, growth in sales to other markets ensured record results, the South American country's Ministry of Development, Industry, Trade, and Services announced this week.

Exports to Singapore rose 133.1% (US$500 million) compared to September last year. Exports to India, in turn, surged 124.1% (US$400 million). Also growing were Bangladesh (+80.6%, or US$100 million), the Philippines (+60.4%, or US$100 million), and China (+14.9%, or US$1.1 billion).

In South America, Brazilian sales grew 29.3%, driven by Argentina, a country to which exports grew 24.9%, while sales to the European Union went up by 2%.

Thus, in September, Brazil exported US$30.54 billion – a record amount for the month, with a 7.2% increase compared to September 2024. The trade surplus, however, shrank 41.1% to US$2.99 billion after the purchase of a US$2.4 billion oil platform from Singapore.

In September, Brazil sold US$2.58 billion to the US market, compared to US$3.23 billion in 2024. Imports from the US, on the other hand, surged 14.3% – from US$3.8 billion to US$4.35 billion.

The increase in imports, combined with the decline in exports, caused Brazil’s trade balance with the US to turn negative by US$1.77 billion last month – the ninth consecutive trade deficit with the country and the largest recorded this year.

In 2025, Brazil exported US$29.213 billion to the US, just -0.6% from the first nine months of last year. Imports totaled US$34.315 billion, up 11.8%, causing the trade deficit to rise to US$5.102 billion in 2025.

In the same timespan last year, Brazil had a deficit of US$1.317 billion with the US. Before President Donald Trump’s administration imposed a 50% tariff on several Brazilian products, Brazil already had a trade deficit with that country. (Source: Agencia Brasil)