Overview: In March 2021 Minas Gerais exported $3.12B and imported $997M, resulting in a positive trade balance of $2.12B. Between March 2020 and March 2021 the exports of Minas Gerais have increased by $1.17B (60.1%) from $1.95B to $3.12B, while imports increased by $327M (48.9%) from $669M to $997M.
Trade: In March 2021, the top exports of Minas Gerais were Iron Ore ($1.47B), Coffee ($428M), Soybeans ($217M), Ferroalloys ($146M), and Gold ($131M). In March 2021 the top imports of Minas Gerais were Coal Briquettes ($49.8M), Vehicle Parts ($40.9M), Delivery Trucks ($28.6M), Nitrogenous Fertilizers ($28M), and Telephones ($26.7M).
Destinations: In March 2021, Minas Gerais exported mostly to China ($1.16B), United States ($180M), Netherlands ($172M), Germany ($150M), and United Kingdom ($128M), and imported mostly from China ($245M), United States ($136M), Italy ($95.3M), Argentina ($54.8M), and Germany ($50.7M).
Growth: In March 2021, the increase in Minas Gerais's year-by-year exports was explained primarily by an increase in exports to China ($522M or 82.1%), Malaysia ($102M or 1.68k%), and United Kingdom ($86M or 207%), and product exports increase in Iron Ore ($965M or 192%), Coffee ($115M or 36.9%), and Coated Flat-Rolled Iron ($31M or 397%). In March 2021, the increase in Minas Gerais's year-by-year imports was explained primarily by an increase in imports from China ($142M or 137%), Italy ($65.1M or 216%), and Germany ($27.6M or 120%), and product imports increase in Vehicle Parts ($36.7M or 869%), Telephones ($20.4M or 323%), and Nitrogenous Fertilizers ($17.5M or 167%).