Brazil trade surplus dips in November

Brazil’s trade surplus fell 13.4% in November from the same month last year, official data showed on Thursday, landing almost in line with economists’ estimates.

Latin America’s largest economy posted a $5.8 billion trade surplus for November, compared to the $5.7 billion expected by economists.

The decline in the trade surplus came as imports rose 7.4% year-over-year, faster than the 2.4% export growth, according to the Ministry of Development, Industry, Trade and Services.

Exports in November were boosted by higher sales values of iron ore, soybeans, beef and coffee, while shipments of crude oil and sugar fell by double digits.

Meanwhile, imports rose helped by a range of products from oil fuels to non-electric machines, auto vehicles and medicines.

Brazil’s trade surplus was $57.8 billion on a year-to-date basis, down 16.8% from the same period in 2024.

Earlier in the day, Brazil’s statistics agency unveiled that the country’s economy slowed more than expected in the July-September quarter, boosting expectations of easing early next year.

Tags: shipments, surplus, export, Brazil, trade, soybeans, Beef, economy, imports