São Paulo – Exports from Brazil outpaced imports in the third week of August, driving up the country’s year-to-date trade surplus. The Brazilian Ministry of Industry, Foreign Trade and Services (MDIC) reported this Monday (22) that last week the country exported USD 3.557 billion worth of goods and imported USD 3.016 billion, with the ensuing trade surplus at USD 541 million. The month-to-date surplus reached USD 2.8 billion.
In the third from the second week of August, average daily exports slid 10.4% with weaker sales across all three product categories. Basic goods exports dropped 8.9%, including soybean, crude oil, soy bran, poultry, beef and copper ore. Semi-finished goods exports were down 29.6% on the back of raw sugar, wood pulp, semi-finished gold, ferroalloys, leathers and hides.
Revenues from finished goods exports fell 5.2%, driven by automobiles, aircraft, refined sugar, plastic polymers, earthworks machinery, and aluminum oxides and hydroxides.
In the third week of August, imports averaged USD 603.2 million a day, up 7.4% from week two. Importation spending went up for fuels and lubricants, electrical and electronic equipment, automobiles, plastic and plastic products, and pharmaceuticals.
Monthly performance
Month-to-date through the third week of August, exports averaged at USD 766.4 million per business day, up 3.9% from the comparable year-ago period. Total exports reached USD 11.496 billion, with higher finished and semi-finished goods sales, but basic goods exports dropped.
During that same period, imports averaged USD 576.6 million a day, down 5.5% due to slower purchases of iron and steel products, autos and auto parts, mechanical equipment, and optics and precision instruments. Overall imports stood at USD 8.634 billion to date in August.
Year-to-date through August, Brazil saw a USD 31.092 billion trade surplus, with exports at USD 118.081 billion and imports at USD 86.989 billion. The comparable period of 2015 had seen a USD 6.71 billion surplus.
*Translated by Gabriel Pomerancblum
