Brazil Trade Surplus Widens In June


Brazil posted a USD 7.2 billion trade surplus in June of 2017, higher than a USD 3.9 billion surplus a year earlier and above market expectations of USD 6.9 billion. In the first six months of the year, trade surplus widened by 53.1 percent to USD 36.2 billion, as exports went up 19.3 percent and imports rose at a slower 7.3 percent.

Exports from Brazil jumped 23.9 percent year-on-year to USD 19,788 million in June of 2017, boosted by sales of semimanufactured products (28.2 percent), namely iron and steel (75.6 percent), sugar (46.4 percent), pulp (45.1 percent), sawn wood (16.1 percent) and leather (3.5 percent); basic products including corn (by USD 4 million), crude oil (114.1 percent), copper (13.1 percent), iron ore (32.2 percent), coffee beans (6.8 percent) and soybeans (18.2 percent). Also, shipments of manufactured products went up 16.1 percent, namely steel and iron pipes (86.6 percent) and cars (69.5 percent). Considering the first six months of the year, exports went up 19.3 percent to USD 107.714 billion. Higher prices for iron ore (82.7 percent), oil (128.2 percent), soy (20 percent), cargo vehicles (59.2 percent) and automobiles (32 percent) were the main drivers of the increase.

Exports rose to Central America and the Caribbean (34.5 percent), Africa (52.4 percent), the US (21.6 percent), the Middle East (43.7 percent), Mercosul (27.1 percent) and Asia (22.9 percent out of which those to China gained 24.3 percent).

Imports increased at a slower 3.3 percent to USD 12,593 million. Purchases rose for fuels and lubricants (62.4 percent), consumer goods (7.6 percent) and intermediate goods (13.6 percent) but fell for capital goods (-50.5 percent).

Yekaterina Guchshina | yekaterina@tradingeconomics.com
7/3/2017 6:55:59 PM