Overview In August 2023 Minas Gerais exported $3.28B and imported $1.35B, resulting in a positive trade balance of $1.93B. Between August 2022 and August 2023 the exports of Minas Gerais have decreased by $-213M (-6.1%) from $3.49B to $3.28B, while imports decreased by $-332M (-19.7%) from $1.68B to $1.35B.
Trade In August 2023, the top exports of Minas Gerais were Iron Ore ($1.03B), Coffee ($462M), Soybeans ($211M), Raw Sugar ($197M), and Ferroalloys ($171M). In August 2023 the top imports of Minas Gerais were Cars ($91.1M), Mixed Mineral or Chemical Fertilizers ($53.9M), Semiconductor Devices ($53M), Potassic Fertilizers ($52.3M), and Nitrogenous Fertilizers ($46.2M).
Destinations In August 2023, Minas Gerais exported mostly to China ($1.3B), United States ($273M), Argentina ($167M), Netherlands ($111M), and Canada ($102M), and imported mostly from China ($342M), United States ($169M), Argentina ($122M), Italy ($59.8M), and Canada ($58.1M).
Growth In August 2023, the decrease in Minas Gerais's year-by-year exports was explained primarily by an decrease in exports to China ($-232M or -25.6%), United Kingdom ($-38M or -32.7%), and Malaysia ($-33M or -76.4%), and product exports decrease in Iron Ore ($-407M or -37%), Gold ($-28M or -17.6%), and Pig Iron ($-24M or -26%). In August 2023, the decrease in Minas Gerais's year-by-year imports was explained primarily by an decrease in imports from South Korea ($-16.4M or -46.4%), Italy ($-12.6M or -23%), and France ($-11.7M or -54.9%), and product imports decrease in Semi-Finished Iron ($-18.4M or -99.9%), Rice ($-12.7M or -82.2%), and Raw Aluminium ($-11.9M or -81.9%).