São Paulo – Africa and the Middle East were the target regions for Brazilian exports to which sales grew the most in August. According to figures disclosed this Thursday (1st) by the Ministry of Development, Industry and Foreign Trade, sales to the African continent increased by 46.1% compared with the same month of 2010, based on the average per working day, and reached US$ 1.35 billion. Shipments to the Middle East generated US$ 1.512 billion in revenues, a 44.6% increase using the same basis of comparison.
According to the Ministry, exports to Africa were driven by sales of sugar, gasoline, ethanol, grain, vehicles and auto parts, soy oil, and machinery and equipment. As to the Middle East, the ministry highlighted sales of sugar, iron ore, meats, maize, machinery and equipment, inorganic chemicals, soy chaff, vehicles, auto parts and livestock.
As a whole, Brazilian exports generated US$ 26.158 billion in revenues in August, an increase of 30.1% over the same month of last year, based on daily average figures. The figure is a monthly all-time high. In addition to Africa and the Middle East, shipments increased to the remaining economic blocs, except for Eastern Europe.
Exports increased across all product categories (basic, semi-manufactured and manufactured), and the figures for each category were also record highs, according to the Ministry of Development. The highest rate of growth was that of sales of semi-manufactured goods (52%) and the lowest rate was that of manufactured ones (19%). Sales of basic goods grew by 33%.
In terms of products, the highlights were aircraft, ethanol, aluminium oxides and hydroxides, cotton, maize, oil, soy, molten iron, semi-manufactured iron and steel goods, and sugar. Exports of all these items grew above average. Many of the products shipped from Brazil had price increases.
Imports
In terms of imports, the Middle East and Africa were respectively the second and third regions to which Brazilian exports grew the most. In the former case, the highlights were oil, naphtha, liquefied petroleum gas and fertilizers. In the latter case, highlights were oil and fertilizers.
Total Brazilian imports reached US$ 22.285 billion in August, a 26.6% increase over the same period of last year based on daily average figures. The figure is another monthly record high. Imports have grown across all product groups (fuels and lubricants, raw materials and intermediate goods, consumer goods and capital goods).
As a result, the country posted a trade surplus of US$ 3.873 billion last month, a figure 61.9% higher than in August 2010.
From January to August, Brazilian exports reached US$ 166.713 billion, a 31.4% increase over the same period of 2010, based on the average figures per working day. Imports reached US$ 146.754 billion, 27.4% more using the same basis of comparison. The surplus stands at US$ 19.959 billion, representing a 71.8% increase.
Strong pace
In a survey issued last Wednesday (31st), the Organization for Economic Cooperation and Development (OECD) compared foreign trade performances of the G7 and BRIC countries. In the second quarter of the year, the rate of growth of exports and imports dropped in all countries of both groups, except for Brazil and China, where trade increased.
It is worth noting that aside from Brazil and China, the two blocs comprise Canada, France, Germany, Italy, Japan, United Kingdom, the United States, Russia, India and South Africa.
In another report, also issued this week, the Economic Commission for Latin America and the Caribbean (Eclac) informed that exports from the region as a whole should increase by 27% this year, 9% of which should account for volumes shipped and 18% for prices. This can be ascertained from the Brazilian trade balance, which thus far had a strong influence from the rising values of goods.
According to the Eclac, Latin American imports should grow by 23% this year, and the region may accumulate a trade surplus of over US$ 80 billion. “South-South trade, led by China and the rest of emerging Asia, is the main driver of growth in global trade, as the export volumes of developing countries grew by 17% in 2010, as against 13% for industrialized nations,” according to a statement issued by the organization.
The Eclac warns, however, that the difficult economic situations of some developed countries is starting to affect emerging ones, and may cause the rate of international trade to slow down in 2012.
*Translated by Gabriel Pomerancblum
