Brazil Trade Surplus Widens 195% YoY In January

Brazil recorded a USD 2724 million trade surplus in January of 2017, much higher than a USD 922 million surplus a year earlier and beating market expectations of USD 2100 million. It is the largest trade surplus for a January month since 2006 when it came at USD 2835 million.

Exports jumped 32.6 percent year-on-year to USD 14911 million, following a 5 percent drop in the previous month. It is the biggest rise since August of 2011. Sales rose for primary products (30 percent), namely soybeans (124.7 percent), iron ore (124.5 percent), oil (97.7 percent), pork (60.2 percent), chicken (23.4 percent), coffee (7.8 percent) and beef (5.1 percent). Shipments also rose for sugar (112.7 percent), fuels (271.2 percent), orange juice (251.2 percent), cargo vehicles (114 percent) and auto vehicles (34.5 percent). Sales to China recorded the biggest increase (74.3 percent), mainly due to oil, iron ore and soybeans. 

Imports went up 18 percent to USD 12187 million, following a 9.3 percent rise in the previous month. It is the strongest increase since October of 2013. Purchases of intermediate goods rose the most (22.8 percent), followed by fuels and lubricants (15.8 percent) and consumer goods (2.8 percent) while capital goods went down 40.1 percent. China was the main importt partner, followed by the United States, Germany, Argentina and South Korea.

In 2016, the country recorded a USD 47.69 billion surplus, the trade surplus on record and higher than USD 19.69 billion in 2015. Exports fell 3.1 percent and imports shrank at a faster 19.8 percent. 

Brazil Trade Surplus Widens 195% YoY In January

Joana Taborda |
2/1/2017 7:20:43 PM