São Paulo – Exports from Brazil reached USD 19.792 billion in May, with daily average revenue 7.5% higher than in May 2016. In May from April 2017, however, revenue was down 8.4%. The numbers were made public this Thursday (1) by the Brazilian Ministry of Industry, Foreign Trade and Services.
Imports amounted to USD 12.131 billion, up 4% from May 2016 based on daily average figures. In May from April 2017, daily average imports slid by 7.4%.
As a result, Brazil saw a USD 7.661 billion trade surplus, up 19.1% from May 2016 – an all-time high according to state-run news agency Agência Brasil.
The Ministry reported a 16.4% increase in revenue from semi-finished goods exports, driven by semi-finished iron or steel products, cast iron, wood pulp, timber and other items.
Basic goods export revenue climbed 11.6% on the back of maize, crude oil, copper ore, iron ore, coffee and soy.
Revenue from finished goods exports slid by 1.2%, with weaker sales of electric motors and generators and plastic polymers.
Revenue from exports increased by 36.8% to Central America and the Caribbean, 23.9% to Africa, 21.6% to the United States, 18.2% to the Middle East, 16.8% to the Mercosur, and 16.2% to Asia. Revenue dropped by 10.7% to Oceania and by 7% to the European Union.
Sales from Brazil to the Middle East grossed USD 890 million in May, driven by sugar, maize, soy bran, chassis and motors, flat-rolled steel, cast iron pipes, iron ore, electric motors and generators and tractors.
Imports
Imports increased for fuels and lubricants by 30.2%, consumer goods, by 20.2% and intermediate goods, by 1.5%, but capital goods imports declined by 20.7%.
Imports increased by 241% from Oceania, 17% from the Mercosur, and 9.7% from Asia. Imports declined from Central America and the Caribbean, by 32.5%, Africa, by 9.4%, the Middle East, by 8%, the European Union, by 6.1%, and the United States, by 2.3%.
The Middle East imported USD 365 million worth of goods, with purchases dropping for items such as natural gas, aviation kerosene, fuel oils, fertilizers, urea, insecticides, heterocyclic compounds (chemical inputs), potassium chloride and medication.
Year-to-date
Year-to-date through May, exports from Brazil reached USD 87.932 billion, up 18.5% from a year ago based on daily averages.
Imports reached USD 58.9 billion, up 8.4%. The result was a USD 29.032 billion trade surplus in the first five months of 2017, up 47.5% from a year ago, and the highest on record for the period according to Agência Brasil.
*Translated by Gabriel Pomerancblum
