BRASIL’S TRADE SURPLUS WITH G20 COUNTRIES TO BE A RECORD IN 2023

In 2023, Brazil’s exports to G20 nations reached $265 billion, constituting 78% of its total exports, marking a 4.6% increase. The country faced a surplus of $62.3 billion in trade with G20 countries, with imports totaling $203 billion. Main exports included soy, oil, and iron ore, while imports mainly consisted of fertilizers, fuels, and electro-electronic inputs. The manufacturing industry dominated exports, followed by agriculture and the extractive industry. Brazil’s trade balance with G20 countries has been positive since 2016. Despite growth in industrial exports, diversification remains a challenge. Source: G20.
Source: G20 / Datamar News