Brazil Trade Surplus Reaches Record High In March

Brazil recorded a USD 7,145 million trade surplus in March of 2017, 61.1 percent higher than a USD 4,435 million surplus a year earlier and beating market expectations of USD 6,800 million. It is the largest trade surplus on record as exports jumped 25.6 percent year-on-year and imports rose at a slower 11.9 percent.

Exports reached USD 20,085 million, boosted by sales of basic products (29.7 percent), mainly iron ore (186.7 percent), crude oil (145.9 percent), pork (33.4 percent) and chicken meat (7 percent). Shipments also increased for manufactured (12.3 percent) and semimanufactured products (7.4 percent), namely hydrocarbons (170.9 percent), fuel oils (161.7 percent), synthetic rubber (111.9 percent), semimanufactured iron and steel (109.3 percent), flexible tubes of iron and steel (94.6 percent) and cargo vehicles (67.1 percent).

Imports went up to USD 12,940 million, mainly due to purchases of fuels and lubricants (14.4 percent), intermediate goods (10.6 percent) and consumer goods (1 percent), while purchases of capital goods fell 10.5 percent. 

Considering the first quarter of 2017, exports increased 20.4 percent on a calendar adjusted basis to USD 50.5 billion and imports rose at a slower 8.4 percent to USD 36 billion, resulting in a USD 14.4 billion trade surplus. Sales to China jumped 57.7 percent and accounted for nearly 25 percent of total exports. 

Brazil Trade Surplus Reaches Record High In March

Joana Taborda |
4/4/2017 11:44:26 AM