The decline in the prices of various agricultural products, coupled with increased imports driven by economic recovery, led to a decrease in Brazil’s trade surplus (exports minus imports) in 2024.
According to the Ministry of Development, Industry, Trade, and Services, Brazil exported $74.552 billion more than it imported in 2024. This represents a 24.6 percent decline compared to 2023, when the trade balance set a record with a surplus of $98.903 billion. Nevertheless, it remains the second-largest annual surplus since the historical series began in 1989.
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