Brasília – The lower exports and growth of imports caused the Brazilian trade balance to end May with the lowest surplus for the month in 11 years. According to figures disclosed on Monday (3) by the Ministry of Development, Industry and Foreign Trade, the country exported US$ 760 million more than it imported in May. The surplus was only lower than in 2002, when May exports exceeded imports by US$ 385 million.
The surplus dropped 74.3% over May last year, when the positive balance was US$ 2.962 billion. Last month, the country exported US$ 21.824 billion, a reduction of 5.9% over May 2012. Imports, however, ended the month at US$ 21.064 billion, growth of 4% over May last year and the highest figure recorded for the month.
In the first five months of the year, the trade balance has accumulated a deficit of US$ 5.392 billion, the worst result for the period since the figures started being recorded, in 1993. This results from a delay in a US$ 4.5 billion in Petrobras fuel purchases. Taking place throughout last year, the imports only started being recorded in the trade balance in December.
*Translated by Mark Ament
