With exports of USD 34.1 billion and imports of USD 27.1 billion, Brazil recorded a trade surplus of just over USD 7 billion in July. The data were released on Thursday (Aug. 6) by the Ministry of Development, Industry, Trade, and Services.

Trade flow (the sum of exports and imports) totaled USD 61.17 billion during the period, representing a 6.8 percent increase compared with July 2025. Both exports (up 6.2 percent) and imports (up 7.6 percent) rose compared with the same period last year.

Key exported and imported products

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According to the ministry, agricultural exports increased by 9.3 percent, driven mainly by soybean exports, which were up by approximately USD 870 million. In the extractive industry, crude oil exports rose by USD 960 million, while in the manufacturing sector, fuel oil exports also increased by USD 960 million. In the case of fuels, export growth exceeded 63 percent.

July’s imports were driven mainly by higher purchases of petroleum fuel oils (up USD 500 million), automatic data-processing machines and their units (up USD 320 million), medicines and pharmaceutical products, excluding veterinary products (up USD 320 million), thermionic, cold-cathode, or photocathode valves and tubes, diodes and transistors (up USD 290 million), and ethylene polymers in primary forms (up USD 150 million).

Trading partners

According to July’s trade balance results, China remains Brazil’s main trading partner, accounting for nearly one-third of Brazilian exports last month, with shipments totaling more than USD 10.7 billion - an 8.6 percent increase compared with July 2025.

The United States ranked second, accounting for 10.7 percent of Brazilian exports in July, down 5 percent from the same month in 2025. The decline does not yet reflect the effects of the US government’s new tariff hike, which took effect on July 22 and is expected to affect August sales, with data to be released in early September.

Brazil’s exports to Argentina also fell last month, declining by nearly USD 230 million, or 13.9 percent compared with July of last year. Although not directly related, this development comes at a time of renewed tensions between the governments of the two neighboring countries following successive attacks by Argentine President Javier Milei against Brazilian President Luiz Inácio Lula da Silva. The dispute led Brazil’s Ministry of Foreign Affairs to downgrade diplomatic relations with Buenos Aires.

Year-to-date

From January through July, Brazil’s trade balance recorded a surplus of USD 49 billion, with both imports and exports increasing compared with the same period last year.

Year-to-date figures (January–July 2026):

Exports: USD 218.6 billion (+10.5%)
Imports: USD 169.5 billion (+5.5%)
Total trade: USD 388.1 billion (+8.2%)
Trade balance: USD 49 billion surplus

The Mercosur–Singapore agreement takes effect next Saturday (Aug. 1) and should gradually reduce or eliminate tariffs between Singapore and the South American bloc.

The agreement guarantees zero tariffs on all Brazilian exports to Singapore. The agreement also establishes common criteria for trade operations.

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In addition to reducing tariffs, the pact expands access to the services market, encourages investment, and includes a specific chapter on e-commerce – the first negotiated by Mercosur with a partner outside the region.

The agreement with Singapore has been in effect in Uruguay since March and in Paraguay since February.

In 2025, trade between Brazil and Singapore reached USD 10.7 billion. Brazilian exports totaled USD 7.4 billion, resulting in a trade surplus of USD 4.1 billion. Among the main products exported are fuel oils, machinery, and beef, pork, and poultry.

The Brazilian government has made manuals available to provide guidance to exporters, importers, and foreign trade operators. They can be found on the Siscomex Portal.

Included are the rules for applying tariff preferences, the criteria for determining the origin of goods, and the procedures required to conduct foreign trade operations.

The accord was signed in 2022, and the Brazilian government’s expectation at the time was to increase the GDP by BRL 28.1 billion by 2041.

Negotiated since 2018, the agreement with Singapore is likely to boost Mercosur’s exports to the Asian country by USD 500 million per year.

China has taken another step toward expanding the entry of Brazilian products into its market by providing the necessary procedures for exporting frozen fruit and fruit pulp produced in Brazil.

The measure allows interested Brazilian companies to begin the authorization process to sell these products to China.

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According to the Brazilian Ministry of Agriculture, the General Administration of Customs of China has incorporated into its system the health certificate template that will be required for Brazilian exports of frozen fruit and fruit pulp.

“As a result, interested businesses can now apply for registration through the China Import Food Enterprise Registration system, a mandatory step for accessing the Chinese market,” the ministry reported.

The authorization applies to products derived from fruit species already recognized as food by Chinese authorities. These include açaí, mango, guava, pineapple, and passion fruit, as well as other fruits permitted for human consumption in China.

Under Chinese regulations, fruits that have not yet been recognized as food remain subject to specific regulatory procedures outlined in local legislation governing novel foods.

Guidelines

Registration in the Chinese system must be completed directly by the exporting company, which is responsible for submitting the required documentation.

After review and approval by the Chinese authorities, the company receives a registration number, which is required to ship goods to the Asian country.

Exports must also be accompanied by the official health certificate agreed upon between Brazil and China.

Before beginning the registration process, the Ministry of Agriculture advises exporters to review the requirements and procedures established by the Chinese authorities.

Once China’s General Administration of Customs has approved the registration and the competent Brazilian authority has issued the certificate, sales may proceed as per the applicable requirements.

The United States has released a list of 471 Brazilian products that will be exempt from the new 12.5 percent surcharge imposed over alleged failures to combat forced labor. Among the items excluded from the measure are coffee, oil, natural gas, fertilizers, lumber, orange juice, and açaí products.

The list was published on Thursday (Jul. 23) by the Office of the United States Trade Representative (USTR) and includes exemptions covering 20 major product categories.

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The new tariff took effect early Friday morning (24). For products not included on the list of exemptions, the additional surcharge will be added to the 25 percent tariff imposed by the US since Wednesday (22), raising the total tariff rate to 37.5 percent on some Brazilian exports.

What was left out

The list of exemptions includes products considered strategic to trade between Brazil and the United States, as well as inputs used by US industry.

Among the main exempt items are:

• coffee;
• petroleum and petroleum products;
• natural gas;
• fertilizers;
• wood and wood products;
• orange juice;
• açaí products;
• pesticides;
• leather and hides;
• pig iron;
• aluminum waste and scrap;
• semiconductor manufacturing equipment;
• certain medications and pharmaceutical ingredients;
• works of art, antiques, and collectibles.

Also excluded were various industrial inputs, minerals, metal waste, and products used in the technology and pharmaceutical industries.

How it works

The new surcharge was announced following an investigation by the US government under Section 301 of the US Trade Act.

According to the USTR, Brazil is among a group of countries that, in the US assessment, lack sufficient mechanisms to prevent the importation of products manufactured using forced labor.

Despite this, the US government decided to exempt hundreds of products from the tariff measure.

According to the agency, the exemptions take into account factors such as the importance of certain inputs to the US economy, existing trade commitments, and the specific characteristics of certain markets.