Overview: In February 2021 Minas Gerais exported $2.21B and imported $790M, resulting in a positive trade balance of $1.42B. Between February 2020 and February 2021 the exports of Minas Gerais have increased by $634M (40.2%) from $1.58B to $2.21B, while imports increased by $178M (29.1%) from $612M to $790M.
Trade: In February 2021, the top exports of Minas Gerais were Iron Ore ($1.05B), Coffee ($320M), Ferroalloys ($143M), Gold ($132M), and Raw Sugar ($51.4M). In February 2021 the top imports of Minas Gerais were Zinc Ore ($47.1M), Coal Briquettes ($34.2M), Semi-Finished Iron ($32.8M), Potassic Fertilizers ($30M), and Nitrogenous Fertilizers ($29.7M).
Destinations: In February 2021, Minas Gerais exported mostly to China ($758M), United States ($162M), Bahrain ($161M), Japan ($94.8M), and Germany ($79.5M), and imported mostly from China ($177M), United States ($117M), Peru ($52.1M), Argentina ($49.1M), and Russia ($47.8M).
Growth: In February 2021, the increase in Minas Gerais's year-by-year exports was explained primarily by an increase in exports to China ($380M or 101%), Bahrain ($135M or 528%), and United Kingdom ($43.9M or 255%), and product exports increase in Iron Ore ($593M or 129%), Gold ($62.7M or 90.5%), and Sulfate Chemical Woodpulp ($24.6M or 104%). In February 2021, the increase in Minas Gerais's year-by-year imports was explained primarily by an increase in imports from China ($66.5M or 60.4%), Peru ($27M or 108%), and Russia ($26.3M or 122%), and product imports increase in Semi-Finished Iron ($31.2M or 2k%), Zinc Ore ($22.2M or 88.9%), and Potassic Fertilizers ($18.8M or 168%).