Brazil’s 2023 year-to-date trade balance has soared to $69.6 billion by the fourth week of September, surpassing the total of $61.53 billion recorded for the entire year of 2022. This significant increase signals a new record for the current year, propelling the nation upward in the global rankings of trade surpluses. In the most recent data from the Organization for Economic Cooperation and Development (OECD), encompassing 46 countries, Brazil secured the sixth position in the ranking from January to June. In 2022, Brazil held the eighth spot in the ranking, while in the pre-pandemic year of 2019, it was 11th. Tatiana Prazeres, leading the Foreign Trade Secretariat (Secex/Mdic), highlights that 2023 is unfolding as a remarkably positive year for the Brazilian trade balance. The agency is anticipated to reevaluate the $85 billion surplus currently projected for the year
Sources: Valor Econômico/Datamar News