Brazil’s exports reached US$34.42 billion in September, while imports fell to US$26.68 billion, giving the country a US$7.74 billion trade surplus, the trade ministry said Tuesday, October 6. The surplus climbed 146.4% from September 2025 as sales of crude oil, copper ore and other goods rose. These figures track cross-border trade, but don't show how export earnings are split among workers, companies and the state.
Commodity Sales Lead the Rise
Exports from the extractive industry jumped 39.8% to US$9.44 billion. Crude oil sales rose 77.3%, and copper ore sales gained 74.2%. Agricultural exports increased 4.8% to US$7.00 billion, with soy exports up 11.9% and unroasted coffee up 8.7%.
Manufactured goods, Brazil’s largest export category, climbed 5.3% to US$17.67 billion. Soymeal, fuel oil and gold led the increase. Other exports headed down: iron ore fell 20.5%, fresh or frozen beef dropped 30.6%, sugar declined 24.9%, corn was down 17.0% and passenger cars fell 34.3%.
Exports totaled US$34.42 billion, against US$30.49 billion in September 2025. Imports slipped from US$27.35 billion to US$26.68 billion, while total trade—the combined value of exports and imports—rose 5.6% to US$61.10 billion. The report lists trade values and product categories, but it doesn't give figures for wages, employment or company profits.
Tariffs and Trade Relations
Brazilian exports to the United States rose 31.9% to US$3.52 billion despite a 25% U.S. tariff on most Brazilian goods, which took effect under Section 301 on Wednesday, July 22, 2026. USTR, the White House trade agency, imposed the tariff under a U.S. law covering unfair trade practices. Beef, orange juice, aircraft and parts, and energy products were among the exemptions.
In September 2025, many Brazilian goods faced combined U.S. duties of up to 50%, imposed under emergency powers. The U.S. Supreme Court ruled those emergency tariffs unlawful in February 2026, g1 reported. Brazil is also contesting a separate 12.5% duty linked to forced-labour enforcement, g1 reported.
The ministry didn't say how much of the rebound in exports to the United States came from the lower tariff rate, oil prices or one-off shipments. Brazil imported more from the United States than it exported there, leaving a US$0.91 billion deficit with that country in September. From January through September, exports to the United States fell 6.5% to US$27.46 billion, and Brazil’s U.S. trade deficit reached US$4.33 billion.
Surplus Forecast Cut; Response Pending
China remained Brazil’s largest customer, though exports there fell 7.6% to US$7.89 billion in September. Brazil recorded a US$0.83 billion surplus with China. Sales to the European Union rose 60.1% to US$6.95 billion, while exports to Argentina fell 25.2% to US$1.36 billion.
From January through September, Brazil exported US$284.65 billion, up 10.4%, and imported US$222.26 billion, up 5.0%. The nine-month surplus reached US$62.40 billion, 34.8% higher than in the comparable period. Exports to China rose 12.0% to US$84.68 billion over those months.
MDIC lowered its 2026 trade-surplus forecast to US$84.4 billion from US$90.0 billion and reduced projected exports to US$382.5 billion from US$394.4 billion. The ministry didn't explain the cuts. Its revised surplus projection compares with US$68.1 billion in 2025.
Talks between Brasília and Washington over the tariff remain unresolved. Brazil began a process under its Reciprocity Law in August that could permit retaliation against U.S. goods, g1 reported; it hasn't announced retaliatory measures. The report says trade surpluses bring dollars into Brazil, supporting the real and the country’s ability to pay foreign debt. The next trade release is due Tuesday, October 13.