Brazil Trade Surplus Nearly Flat YoY in January


Brazil trade surplus was nearly unchanged at USD 2.77 billion in January of 2018 compared to the corresponding month a year ago, coming below market expectations of a USD 3.03 billion surplus as imports and exports grew strongly.

Exports increased 13.8 percent year-on-year to USD 16.968 billion, mainly boosted by sales of aircraft (474.4 percent), soybeans (62.9 percent), beef (20.9 percent) and crude oil (18.9 percent). Shipments to China accounted for nearly 20 percent of total sales and increased 11.2 percent when adjusted for the working day average. Sales to the EU represented 17.9 percent and rose 32.1 percent and the US was the third largest export market with a 12.3 percent share and exports rising 23 percent.

Imports went up 16.4 percent year-on-year to USD 14.199 billion, the highest value since July of 2015. Purchases rose for fuels and lubricants (96.3 percent), mainly diesel oil, crude oil, liquefied propane, natural gas, gasoline, electric power, aviation kerosene; consumption goods (19.2 percent), namely passenger cars, blood fractions, medicines, immunological products, olive oil, animal feed preparations, electrothermal fryers, food preparations; capital goods (11.4 percent), namely diesel-electric locomotives, dump trucks, electric motors, LED lamps; and intermediate goods (5.8 percent). The EU was the main import partner (20.9 percent share) and purchases rose 22 percent, followed by China (20 percent share and a 21.9 percent increase in imports) and the US (16.8 percent share and inbound shipments up 11.8 percent). 

Brazil Trade Surplus Nearly Flat YoY in January


Joana Taborda | joana.taborda@tradingeconomics.com
2/1/2018 5:58:38 PM