Trade Balance of Goods in Brazil: Overview from 2017 to 2023

Brazil’s trade balance of goods consistently remained in surplus, reflecting its strong position as a commodity exporter. The surplus was 49,132.8 million USD in 2017 and fluctuated over the years, peaking at 86,985.5 million USD in 2023, driven by robust global demand for agricultural products, iron ore, and oil. Favorable commodity prices in 2023 contributed significantly to the record surplus.

Despite occasional dips, such as in 2019 (27,965.0 million USD), Brazil's trade balance remained resilient due to export-driven growth. However, structural challenges, including dependency on raw material exports and vulnerability to global market shifts, continue to shape the trade dynamics, underscoring the need for diversification.