Brazil’s trade surplus surged 146.4% year over year to $7.74 billion in September 2026, above forecasts of $7.19 billion and marking the sharpest annual increase since January 2024. Exports rose 12.9% to $34.42 billion. Agriculture exports increased 4.8%, led by higher sales of rye, oats and other unmilled cereals (31,239.5%), unroasted coffee (8.7%) and soybeans (11.9%). Extractive industry shipments jumped 39.8%, driven by other crude minerals (104.4%), copper ores and concentrates (74.2%) and crude petroleum oils (77.3%). Manufacturing exports rose 5.3%, led by soybean meal and other animal feed, meat and animal flours (47.7%), fuel oils from petroleum or bituminous minerals (39.1%) and non-monetary gold. Imports fell 2.4% to $26.68 billion, driven by a 3.2% decline in manufacturing purchases, while agriculture imports rose 9.3% and extractive industry imports increased 7.4%.