Brazil Trade Surplus Narrows 25.5% YoY in November

Brazil trade surplus decreased to USD 3.55 billion in November of 2017 from a USD 4.76 billion surplus in the corresponding month a year ago and below market expectations of USD 5.25 billion. Imports jumped 14.7 percent to USD 13.14 billion while exports advanced at a much slower 2.9 percent to USD 16.69 billion, the lowest gain in 11 months.

Imports surged 14.7 percent year-on-year to USD 13.14 billion, following an 20.2 percent rise in October. Purchases were mainly boosted by fuels and lubricants (69.2 percent); namely diesel, coal, gasoline, crude oil, cokes, electric power; lubricating oils, petroleum oils, liquefied butanes and kerosene. Also, imports grew for consumer goods (20.0 percent); capital goods (10.8 percent) and intermediate goods (6.7 percent). Among major trading partners, imports rose from China (24.4 percent), the EU (15.9 percent) and the US (0.9 percent).

Exports rose 2.9 percent to USD 16.69 billion, following a 37.6 percent jump in the prior month. It was the lowest increase since December last year when sales shrank 5 percent. Exports went up 26.5 percent for basic products, mainly soy beans (522.8 percent); corn grain (243.5 percent); raw cotton (74.9 percent); beef cattle (47.4 percent); copper ore (30.3 percent); soybean meal (24 percent); iron ore (23.4 percent); leaf tobacco (10.8 percent) and chicken meat (8.8 percent). Also, sales rose for semimanufactured goods (3.1 percent), mostly copper cathodes (192.4 percent); cast iron (87.9 percent); semimanufactured iron and steel (44 percent) and lumber (32.2 percent). Meanwhile those for manufactured goods fell (-14.2 percent). Among major trading partners, exports increased to China (40.7 percent), the EU (3.7 percent), the US (9.6 percent) and Argentina (30.6 percent). 

In the first eleven months of the year, the trade surplus widened by 43.3 percent to a record-high of USD 62 billion, as exports climbed 18.2 percent and imports rose at a slower 9.6 percent.

Brazil Trade Surplus Narrows 25.5% YoY in November

MDIC | Luisa Carvalho |
12/4/2017 11:52:21 AM