TRADE
Brazil credits the EU deal for an export boom oil and copper built
Brazilian exports to the EU are booming, but not necessarily because of the trade deal. Photo: Eduardo Knapp/Folhapress
Brazil's exports to the European Union rose 30.7% between May and September compared with the same period of 2025, reaching USD 27.3 billion, according to Industry and Trade Ministry data. The Lula administration is presenting the figure as an early dividend of the Mercosur-EU trade agreement, which took provisional effect on May 1 after more than 26 years of negotiations.
"The Mercosur-European Union agreement alone, from May until now, meant a 30% expansion of our exports," Industry and Trade Minister Márcio Elias Rosa said on October 13, at an Agriculture Ministry event. The number checks out. The causal link is weaker. A closer look at product-level customs data shows…
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