With Exports Totaling US$ 337 Billion and Imports of US$ 262.5 Billion, Brazil Closed 2024 with a Trade Surplus of US$ 74.6 Billion — The Second Largest Ever Recorded, Behind Only the Record of US$ 98.9 Billion Achieved in 2023.
Foreign Trade on the Rise: Brazil Maintained Its Strength in the International Market in 2024, with Billions of Dollars in Exports.
Products such as soybeans, iron ore, oil, and meat led the export agenda, with a focus on strong demand from China, which accounted for 31% of Brazilian Purchases, followed by the United States, with 12%.
But do you know what your state exports? Official data from the Ministry of Development, Industry, Commerce and Services (MDIC), alongside analyses from FGV, shows a diverse and powerful Brazil in exports. Check out the main products sold by state and their weight in the national economy.
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The neighboring country of Brazil that reduced the working hours and increased the minimum wage by 23.7% had to hire 787,000 extra workers to cover the reduced hours, and even so, it records unemployment at a historic low.
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A resident of Guangzhou infiltrated the village where the 500 factories that make Shein’s clothes are located, disguised, and filmed everything: shifts from 8 am to 10 pm, factories operating at night, and owners who accept any conditions to avoid losing the contract.
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Traffic jammed between BH and Nova Lima may get significant relief with the Viaduto Ferradura, a R$ 48 million project that promises to connect MG-30 and MGC-356 without passing through the Belvedere junction.
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After Russia turned off the tap, Europe looks to Africa as a new energy salvation: two giant pipelines of up to 7,000 km may cross the Sahara and the Atlantic, costing $25 billion and transforming Nigerian gas into a geopolitical weapon.
Soybeans: The Queen of Brazilian Exports
Soybeans remain the main export product of Brazil, accounting for over 12% of the total export value in 2024. The grain dominates shipments in 12 states, including:
- Maranhão
- Piauí
- Bahia
- Tocantins
- Goiás
- Federal District
- Mato Grosso
- Mato Grosso do Sul
- Acre
- Rondônia
- Paraná
- Rio Grande do Sul
The China, a Major Buyer, keeps demand high, driving prices and supporting the positive trade balance of these states.
Iron Ore: Wealth of Brazil’s Subsoil
In the states of Minas Gerais, Espírito Santo, and Pará, the flagship product is iron ore, which accounted for about 9% of national exports in 2024. Besides supplying the global industry, especially the Chinese one, this product sustains jobs and investments in infrastructure.
Crude Oil: Billions in Revenue in the Southeast and Northeast
Crude Oil continues to be one of the largest Revenue Generators for Brazil. In 2024, Rio de Janeiro, Sergipe, and Rio Grande do Norte led with billion-dollar crude oil exports, representing about 13% of the national total.
Meat, Sugar, and Wood: Regional Highlights
- Santa Catarina: largest exporter of poultry meat, serving demanding markets such as Europe and Japan.
- Roraima: interestingly, the state exports meat by-products, tapping into market niches.
- Paraíba, Pernambuco, Alagoas, and São Paulo: together, they have sugar as their main export item, generating millions.
- Amapá: the star is logs, aimed at cellulose production.
- Ceará: highlights include iron and steel ingots, industrial items with high added value.
- Amazonas: remains strong with chemical pulp preparation, a direct result of the industry in the Manaus Industrial Hub.
China Leads, USA in Second
The largest destination for Brazilian exports in 2024 was once again China, with 31% share, driving demand for commodities such as soybeans, iron ore, and oil.
In second place, the United States, with 12%, continues to buy mainly oil, meats, and machinery.
Exporting is Growing: The Economic Impact for Brazil
Foreign trade continues to be one of the pillars of the Brazilian economy. In 2024, exports helped maintain the trade surplus and boosted strategic sectors, from agribusiness to heavy industry.
In addition to gains in dollars, exporting states also attract investments, create jobs, and strengthen their production chains.
And Do You Know What Your State Exports?
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