Overview In January 2023 Minas Gerais exported $2.7B and imported $1.18B, resulting in a positive trade balance of $1.53B. Between January 2022 and January 2023 the exports of Minas Gerais have increased by $288M (11.9%) from $2.42B to $2.7B, while imports increased by $50.6M (4.5%) from $1.13B to $1.18B.
Trade In January 2023, the top exports of Minas Gerais were Iron Ore ($671M), Coffee ($524M), Ferroalloys ($218M), Gold ($125M), and Sulfate Chemical Woodpulp ($109M). In January 2023 the top imports of Minas Gerais were Nitrogenous Fertilizers ($82.8M), Delivery Trucks ($68.3M), Coal Briquettes ($32.8M), Motor vehicles; parts and accessories (8701... ($28.5M), and Semiconductor Devices ($25M).
Destinations In January 2023, Minas Gerais exported mostly to China ($837M), United States ($340M), Germany ($160M), Argentina ($145M), and Netherlands ($129M), and imported mostly from China ($295M), United States ($145M), Italy ($66.8M), Mexico ($59.1M), and Argentina ($44.9M).
Growth In January 2023, the increase in Minas Gerais's year-by-year exports was explained primarily by an increase in exports to United States ($82M or 50.5%), Netherlands ($53.7M or 79.8%), and Argentina ($41.5M or 65.5%), and product exports increase in Coffee ($169M or 46.5%), Soybeans ($81.2M or 71.1k%), and Hot-Rolled Iron ($40.5M or 17k%). In January 2023, the increase in Minas Gerais's year-by-year imports was explained primarily by an increase in imports from China ($206M or 112%), United States ($64.8M or 73.8%), and Australia ($47.4M or 5.57k%), and product imports increase in Coal Briquettes ($101M or 287%), Semiconductor Devices ($51.8M or 872%), and Excavation Machinery ($37.5M or 383%).