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Brazil recorded a US$7.39 billion trade surplus in August 2026, up 23.8% from August 2025. Exports rose faster than imports, and exports to the United States also increased. But the available figures do not show that higher U.S. tariffs caused Brazil’s overall surplus to grow: the national balance covers trade with all partners, while the U.S. numbers describe one bilateral relationship.
What Brazil’s August trade figures show
Brazil exported US$33.16 billion and imported US$25.76 billion in August 2026, for a US$7.39 billion surplus and US$58.92 billion in total trade. Compared with August 2025, exports increased 12.2%, imports increased 9.2%, the surplus grew 23.8%, and total trade rose 10.9%, according to the Ministry of Development, Industry, Trade and Services (MDIC) consolidated monthly release.
The arithmetic helps explain the larger balance: exports grew more quickly than imports year over year. That is a description of the reported change, not proof of what caused it. Agência Brasil reported that the surplus was the third-largest August result in the historical series, behind August 2023’s US$9.6 billion and August 2021’s US$7.7 billion.
Which sectors recorded export growth?
MDIC reported year-over-year export growth in all three broad sectors in August:
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| Sector | Export growth | August 2026 exports |
|---|---|---|
| Agriculture | 11.4% | US$7.39 billion |
| Extractive industry | 16.4% | US$8.35 billion |
| Manufacturing | 10.2% | US$17.17 billion |
These figures, from the MDIC August release, show that growth was not confined to one of the listed sectors. They do not identify the individual products or market-level factors behind each increase, and do not establish a tariff effect.
What happened to exports to the United States?
Brazil’s exports to the United States reached US$3.190 billion in August 2026, up 12.1% from US$2.845 billion in August 2025. An Agência Brasil report published September 4, 2026, citing MDIC data, said export prices to the U.S. rose 8.6%.
Herlon Brandão, director of MDIC’s Department of Foreign Trade Statistics and Studies, attributed the increase in Brazilian exports during the month to higher prices in exports to the United States. He said: “Esse aumento das exportações brasileiras no mês está calcado pelo crescimento de preços da exportação para os Estados Unidos, de 8,6%”. In English: “This increase in Brazilian exports during the month is based on the growth in export prices to the United States, of 8.6%.” The reported price increase is an explanation for the U.S.-bound export rise; it is not an explanation for the entire national trade surplus.
How much of Brazil’s exports did the reported U.S. tariffs cover?
A July 24, 2026, MDIC note said U.S. tariff measures then covered 23.1% of Brazilian exports, while 52.7% remained without additional sectoral or Brazil-specific tariffs. The note described additional tariffs of 25% and 12.5% on covered portions under measures published July 15 and 23. These percentages and rates reflect the scope reported in that dated government note; they should not be read as a blanket tariff on every Brazilian export. See MDIC’s summary of the measures.
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The cited figures do not establish that. The US$7.39 billion surplus measures Brazil’s exports to and imports from all trading partners. The US$3.190 billion figure measures exports to the United States alone; it is not a bilateral trade balance. The August statistics show that national exports grew faster than imports and that U.S.-bound export prices increased, while the July note describes the reported reach of specific U.S. tariffs. None of those facts, alone or together, demonstrates that the tariffs caused the overall surplus increase.
For ongoing trade data, MDIC maintains a foreign trade statistics page.
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