Brazil’s Oil Exports Surge, Masking Trade Balance Shifts

Brazil’s oil sector has become a pivotal force in the country’s trade balance. Surging petroleum exports have offset declining surpluses in other sectors, highlighting Brazil’s growing prominence in the global oil market. In 2024, oil and its derivatives accounted for 37.5% of Brazil’s $54.1 billion trade surplus. This marks a significant increase from previous years, […]