Brazil Posts Record April Trade Surplus as FX Inflows Hit 8-Year High

Overview

• Brazil’s trade balance showed a US$10.53 billion surplus in April, the best April result since the series began in 1989, with exports at US$34.1 billion and imports at US$23.6 billion, according to MDIC.
• The Central Bank reported a net foreign-exchange inflow of US$9.291 billion in April, the largest for the month since 2018, with US$6.616 billion from trade flows and US$2.674 billion from financial transactions.
• The year-to-date trade surplus reached US$24.78 billion through April, a 43.5% increase compared with the same period in 2025, government data showed.
• April exports were led by soybeans at US$6.96 billion, crude oil at US$4.79 billion, iron ore at US$2.46 billion, and beef at US$1.57 billion, with China the top buyer at US$11.61 billion.
• Cumulative FX flow through April 30 stood at a positive US$13.397 billion, reflecting strong commercial inflows of US$15.682 billion that outweighed US$2.284 billion in financial outflows.