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Dispute Between Nova Lima and Varginha Marks Minas Gerais Exports; Mining Beats Coffee by Small Margin in January.
Minas Gerais’ exports began 2026 with an intense rivalry between two of the state’s main economic hubs.
In January, Nova Lima topped the state ranking with US$ 237.5 million in international shipments, surpassing Varginha by a narrow margin of just US$ 200,000.
The data, released by the Ministry of Development, Industry, Commerce and Services (Mdic), reflect the performance of strategic sectors such as iron ore and coffee, as well as the appreciation of commodities in the global market.
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This result places the municipality from the Metropolitan Region of Belo Horizonte at the top of state exports right in the first month of the year.
Meanwhile, Varginha, a traditional powerhouse in agribusiness, maintained a strong presence in foreign trade, supported mainly by coffee sales.
Significant Growth Boosts Nova Lima’s Exports
The growth of Nova Lima was significant compared to the previous year.
The municipality’s exports grew 67.7% compared to January of last year, marking the fourth-largest result in the historical series that started in 1997.
A large part of this performance came from the extractive industry.
Iron ore led the export agenda, totaling US$ 145.6 million — an increase of 44% compared to the same period last year.
Additionally, gold played a decisive role.
With record international appreciation, shipments of the precious metal soared 141%, reaching US$ 89.9 million and reinforcing the mineral relevance in the local economy.
China and the United Kingdom Concentrate on Nova Lima’s Purchases
The international reach of Nova Lima’s exports encompassed 15 countries.
However, two markets accounted for almost all demand.
China accounted for 57.5% of purchases, focusing on iron ore used by the steel industry.
The United Kingdom absorbed 37.9%, driven by gold imports.
Together, the two products represented 99.2% of the municipality’s entire export agenda, highlighting a strong concentration in mineral commodities.
Varginha Maintains Global Strength with Coffee Exports
On the other hand, Varginha presented a more diversified export structure in destinations, although focused on products.
The municipality sold to 52 countries, with the United States leading, accounting for 20.8% of purchases.
Coffee dominated the agenda with 97.6% of shipments.
Overall, the agricultural commodity generated US$ 231.5 million in revenue, a growth of 3.4% compared to the same month last year.
This performance reinforces the prominence of Southern Minas in Brazilian agribusiness.
Even without monthly leadership, the municipality remains a global reference in coffee bean exports.
Dispute Between Nova Lima and Varginha Dates Back to 2025
The rivalry in exports did not start now.
Throughout 2025, the two municipalities dominated Minas Gerais’ foreign trade in 11 of the 12 months of the year.
Varginha led eight times, benefited by the appreciation of coffee in the international market. Nova Lima topped the list three times, with the last occurrence in September.
Thus, the only exception occurred in August, when Araxá, in Alto Paranaíba, recorded the highest export revenue in the state.
Annual Ranking Still Favors Varginha
Despite Nova Lima’s brief leadership in January, the year-to-date total for 2025 kept Varginha in the lead.
The municipality in Southern Minas ended the year with US$ 3.3 billion in exports.
Nova Lima appeared in third place with US$ 2.5 billion, just behind Araxá — which surpassed Nova Lima by only US$ 21.7 million.
This scenario demonstrates competitive balance between mining and agribusiness within the Minas Gerais trade balance.
Top 5 Minas Gerais Exports in January
In addition to Nova Lima and Varginha, other municipalities played a relevant role in state exports in the first month of 2026:
Paracatu — US$ 191.2 million;
Guaxupé — US$ 187.7 million;
São Gonçalo do Rio Abaixo — US$ 122.2 million.
Paracatu recorded a growth of 62.3%, driven by gold sales to Switzerland.
Meanwhile, Guaxupé suffered a decrease of 13.7%, reflecting the drop in coffee shipments.
São Gonçalo do Rio Abaixo had a decrease of 17.4%, impacted by the reduction in iron ore sales, especially to China.
Commodities Continue to Determine Leadership in Exports
The January performance highlights how commodities continue to shape the map of Minas Gerais exports.
On one hand, Nova Lima advances with mineral strength, supported by iron ore and gold.
On the other hand, Varginha maintains global relevance through coffee, a product that keeps Minas Gerais as an agricultural powerhouse.
Thus, the dispute between mining and agribusiness continues to define the paths of the state’s foreign trade — with increasingly narrow margins month by month.
See more at: Nova Lima Leads Exports in Intense Dispute with Varginha
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