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Trade deficit with the U.S. down 80% this year

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Although Brazil runs a deficit, bilateral trade with the United States has been less negative for Brazil’s balance this year. In the first three quarters of 2023, Brazil’s trade deficit with the U.S. fell by 80%. The negative balance of $11.5 billion in 2022 was reduced to $2.3 billion this year, considering the period from January to September. The result was due to the fact that Brazilian imports fell faster than exports in trade between the two countries.From January to September, Brazilian imports of American goods amounted to $28.9 billion, a decrease of 26.5% compared to the same months in 2022. In the same period, exports to the U.S. amounted to $26.6 billion, a decrease of 4.5%. Trade flows —the sum of imports and exports, considered an indicator of commercial dynamism— totaled $55.5 billion this year through September, the second highest figure for the period in the official historical series, according to data from the Foreign Trade Secretariat (Secex/Mdic), organized by the American Chamber of Commerce (Amcham Brasil) in the Brazil-U.S. Trade Monitor.Abrão Neto, CEO of Amcham, believes that the trend shown by the main indicators should continue at the end of...

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