Brazil Trade Surplus Hits Record High for February


The trade surplus in Brazil widened to USD 3.67 billion in February of 2019 from USD 2.99 billion a year earlier. Figures beat market expectations of USD 3 billion as imports fell faster than exports. Imports in February tend to be volatile due to Carnival. Carnival in 2019 will follow in March while in 2018 if fell in February. Yet, it is the highest trade surplus for a February month since the series began.

Exports fell 6.4 percent from a year earlier to USD 16.29 billion. Sales went down for semimanufactured products (-12.5 percent), namely soy oil, cast iron and leathers; and manufactured (-24.8 percent), namely platforms for oil extraction, cargo vehicles and autos. In contrast, sales rose for basic products (22.4 percent), namely soybeans, cotton, corn, iron ore and coffee. Shipments slumped 37.6 percent to the EU, but increased 30.1 percent to China and 16.4 percent to the US. 

Imports declined 12.4 percent to USD 12.62 billion, mainly due to purchases of consumption goods (-1.5 percent), capital goods (-57.7 percent) and fuels and lubricants (-27 percent). In contrast, sales of intermediate goods rose 7.8 percent. Imports fell from the US (-2.7 percent) and the EU (-6.2 percent) but rose from China (6.4 percent).

Brazil Trade Surplus Hits Record High for February


Joana Taborda | joana.taborda@tradingeconomics.com
3/1/2019 7:36:05 PM