Brazil Trade Surplus at Record High for July Month


Brazil trade surplus increased to USD 6.3 billion in July 2017 from USD 4.6 billion in the corresponding month a year earlier, but below market expectations of USD 6.4 billion. Still, it was the biggest surplus posted for a July month since the series began, as exports jumped 14.9 percent from the previous year to USD 18.8 billion while imports rose at a slower 6.1 percent to USD 12.5 billion.

Exports jumped 14.9 percent to USD 18.77 billion from USD 16.33 billion a year earlier, boosted by higher sales of primary goods (19 percent) and industrial products (11.5 percent), of which manufactured (12.6 percent) and semimanufactured (8.7 percent). Among major trading partners, exports increased to China (14.7 percent), the US (22.8 percent) and Argentina (47.9 percent).

Imports rose 6.1 percent to USD 12.47 billion from USD 11.75 billion in July 2016, as purchases rose the most for fuels and lubricants (57.2 percent), intermediate goods (6.8 percent) and consumer goods (3.5 percent). By contrast, imports of capital goods dropped 22.7 percent. Among major trading partners, imports went up from China (26.1 percent) and the US (4.4 percent), while those from the EU fell 10.2 percent.

In the first seven months of the year, the trade surplus widened to USD 42.5 billion from USD 28.2 billion in the same period of 2016, as exports increased 18.7 percent to USD 126.48 billion and imports grew 7.2 percent to USD 83.97 billion.

MDIC | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/1/2017 6:34:32 PM