Exports of goods and services grew by 9.5% in 2023. Almost all segments contributed positively to this performance, with the exception of intermediate goods. The FGV highlights the exportation of agricultural products, which grew by 25.3% during the year.

Over the past decade, the Brazilian economy has navigated through a tumultuous journey marked by contrasting phases of growth and downturns. At the onset of the decade, Brazil exhibited robust economic expansion fueled by favorable global commodity prices, domestic consumption, and government stimulus measures.

However, by the mid-decade, the country faced formidable challenges including a global economic slowdown, plummeting commodity prices, political instability, and fiscal mismanagement. These factors collectively triggered a severe recession in 2015 and 2016, characterized by soaring inflation, escalating unemployment rates, and a sharp contraction in GDP.

Despite subsequent recovery efforts in 2021 and 2022, structural obstacles such as income inequality, corruption, and infrastructure deficiencies persist, underscoring the need for sustained structural reforms and policy stability to foster inclusive and sustainable economic growth in Brazil.