São Paulo – Brazilian exports declined and imports grew in the third week of October. As a consequence, the trade balance showed a US$ 724 million deficit, according to figures released this Monday (20th) by the Brazilian Ministry of Development, Industry and Foreign Trade.
From October 13th to 19th, the country exported the equivalent of US$ 3.913 billion, or US$ 782.6 million per business day, down 7.3% from the first two weeks of the month. In turn, imports were up 12.2% to US$ 927.4 million on average per business day. In total, Brazil imported US$ 4.637 billion worth of products in the third week of October.
According to a press release from the ministry, semi-manufactured goods exports were down 24.6% in the third week of October from the first two weeks. The decline was mostly a consequence of lower sales of raw sugar, wood pulp, semi-manufactured iron and steel products, cast iron and ferroalloys.
Manufactured goods exports were down 10.1% as a result of lower sales of plastic polymers, vehicle engines, non-frozen orange juice, engines and generators and flat-rolled steel.
Conversely, basic goods exports were up 0.4%, driven by iron ore, crude oil, soy bran and coffee beans.
Higher imports
Imports increased as a consequence of fuels and lubricants, mechanical equipment, home appliances, autos and auto parts and fertilizers.
In the first two weeks of October, there was a US$ 140 million trade surplus. After factoring in last week’s results, the Brazilian trade balance is running a US$ 584 million deficit month-to-date in October. Year-to-date in 2014, the deficit stands at US$ 1.278 billion. In the comparable period of 2013, the deficit stood at US$ 757 million.
*Translated by Gabriel Pomerancblum
