Brazil Trade Surplus Falls in July


The trade surplus in Brazil narrowed to USD 4.23 billion in July of 2018 from USD 6.29 billion a a year earlier, lower than market expectations of a USD 5.71 billion surplus. Imports reached the highest value since November of 2014, mainly due to purchase of a platform for oil extraction from China. Exports were the highest since July of 2014, mainly boosted by sales of soybeans, oil and iron ore to China.

Imports surged 49.5 percent year-on-year to USD 18.64 billion. It is the highest value since November of 2014, mainly due to a jump in purchases of intermediate goods (+28.1 percent) and capital goods (+312.7 percent). Purchases went up from China (+90.7 percent), the EU (28.9 percent) and the US (+19.9 percent).

Exports jumped 21.9 percent year-on-year to USD 20.2 billion, the highest since July of 2014, mainly boosted by shipments of soybeans (+60.7 percent), oil (+122 percent), iron ore (+54 percent), chicken meat (+19.6 percent) and beef (42.7 percent). Main falls were seen in exports of sugar (-43.1 percent) and corn (-42.7 percent). Sales jumped 73.1 percent to China, 30.2 percent to the EU and 5.7 percent to the US.

Brazil Trade Surplus Falls in July


Joana Taborda | joana.taborda@tradingeconomics.com
8/1/2018 6:50:16 PM