São Paulo – Exports from Brazil increased in the first week of June, swinging the trade balance into a US$ 1.976 billion surplus. For their part, imports dropped in the four working days between June 1st and 7th. One of the reasons for the higher revenues was the exporting of an oil rig worth US$ 690 million. Even without computing this sale, there would still have been a surplus, according to numbers released in Brasília this Monday (8th) by the Brazilian Ministry of Development, Industry and Foreign Trade.
Daily average exports were up 13.9% from the comparable period in 2014, to US$ 1.1 billion, and up 39% from the average from May 2015. Overall, exports grossed US$ 4.661 billion in the first week of June. According to the ministry, in the first week of the month, foreign sales increased for finished and semi-finished goods, and declined for basic goods.
Finished goods exports averaged US$ 507.7 million a day, up 50.6% from June 2014, driven by sales of an oil rig, taps/valves, non-frozen orange juice, aluminum oxides and hydroxides, cargo vehicles, plastic polymers, automobiles and their parts. Semi-finished goods exports were up 10.8% to US$ 129.6 million a day. The semi-finished products whose exports increased the most were copper cathodes, cast iron, rubber, wood pulp, raw aluminum, leathers and hides and raw sugar.
Basic goods exports averaged US$ 500.8 million a day, down 7.8% from June of last year. Exports declined the most for iron ore, soya bran, pork and coffee beans. In June from May this year, foreign sales increased across the board.
Slower purchases
Brazil imported US$ 671.3 million per day in the first week of June, down 25.9% from the average in June 2014. Imports were down 48.7% for fuels and lubricants, 30.8% for pharmaceuticals, 30.6% for fertilizers, 19.1% for consumer electronics and 17.3% for organic and inorganic chemicals. In the first week of the month, imports amounted to US$ 2.685 billion.
Year-to-date through the first week of June, Brazil had a trade deficit. As of Sunday (7th), exports had reached US$ 79.362 billion and imports, US$ 79.691 billion. The ensuing deficit is US$ 329 million.
*Translated by Gabriel Pomerancblum
