General

According to customs data, Brazil's foreign trade surplus reached US $62.3 billion in 2022, an increase of 1.5% over 2021, a record high.

According to customs data, Brazil's total foreign trade in 2022 was 607.7 billion US dollars, up 21.5% from 2021. Among them, the export volume was 335 billion US dollars, an increase of 19.3% over 2021; The import volume was US $272.7 billion, up 24.3% from 2021.

According to customs data, in December 2022, Brazil's export volume was 26.6 billion US dollars, and its import volume was 21.8 billion US dollars. In that month, the country's foreign trade surplus was 4.8 billion US dollars, up 24.5% year on year.

From the perspective of the whole year of 2022, the export of Brazil's agricultural products increased by 36.1%, of which the export of soybeans increased by 20.8% and the export of beef increased by 48.2%. The export of industrial products increased by 26.2%, while the export of mineral products decreased by 4.6%. According to customs data, Brazil's crude oil and fertilizer imports increased by 75.3% and 63.6% respectively.

Customs data also showed that in 2022, the main export destinations of Brazilian products were: China's US $91.3 billion, the EU's US $51 billion, the US $37.4 billion and Argentina's US $15.4 billion. The main sources of Brazil's imports are: China's US $61.6 billion, the US $51.3 billion, the EU's US $44.3 billion and Argentina's US $13.1 billion.

Brazil's Ministry of Development, Industry and Trade said that thanks to the rise in commodity prices, Brazil's foreign trade surplus in 2022 was higher than expected. Previously, the previous government and financial market of Brazil predicted that Brazil's foreign trade surplus would be US $55.4 billion and US $56.9 billion respectively in 2022.

According to the latest forecast of Brazil's financial market, the country's economy is expected to grow by 0.8% in 2023, while the foreign trade surplus will be 58 billion US dollars.