Xinhua News Agency, Rio de Janeiro, January 7. Data recently released by the Brazilian Ministry of Development, Industry and Trade show that Brazil will achieve a trade surplus of approximately US$98.8 billion in 2023, a year-on-year increase of 60.6%, setting a new high since 2022. . The data also shows that China continues to be Brazil’s largest export destination.

In 2023, Brazil’s total exports will reach US$339.673 billion, a year-on-year increase of 1.7%; total imports will reach US$240.835 billion, a year-on-year decrease of 11.7%. Active commodity exports became an important factor in pushing up Brazil’s foreign trade surplus last year. In addition, the number of Brazilian export companies increased last year.

Brazilian Vice President and Minister of Development, Industry and Trade Alcmin said that foreign trade is of great significance to Brazil in boosting its economy, expanding employment, increasing residents’ income and promoting national development.

The Brazilian Ministry of Development, Industry and Trade predicts that as the economy continues to recover, Brazil’s imports are expected to grow in 2024, and the trade surplus will drop to US$94.4 billion.