The deficit narrowed as a result of a 5.5% hike in exports and a 4.4% drop in imports.
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Capital goods exports from Brazil reached USD 824 million in August, down 15.7% from August 2018.
Foreign sales fetched USD 4.422 billion and foreign purchases amounted to USD 3.454 billion, leading to a USD 968 million trade surplus.
Shipments to the region grossed USD 1.2 billion last month. It was the highest monthly result year-to-date.
Brazil ran a USD 2.3 billion surplus last month, the lowest for the month since 2010. Both exports and imports slid.
The industry grossed BRL 6.75 billion, down 12% year-on-year, and exports are also on their way down.
The emirate imported USD 2.1 billion worth of food and agricultural products in 2018. The sum is down marginally from 2017 numbers.
Purchases of chemical products from other countries came out to USD 20.4 billion in the first half of the year, up 6% year-on-year.
Brazil’s Foreign Trade Association has toned down its predictions on imports and foreign trade. Estimates regarding exports and the trade surplus moved up.
Deficit rose to USD 3.87 billion, up 6.8% from a year ago. Exports increased by just 0.5%, while imports increased by 4%.
Estimate for 2019 surplus rose from USD 50.1 billion to USD 56.7 billion. However, a decline in both exports and imports is expected.
Foreign sales reached USD 1.21 billion in the January and February. Imports decreased, but the country still accumulates a heavy trade deficit.
Brazil saw 2.7 million tons manufactured, down 1.7% from a year ago.
On the eve of the bloc’s summit, in Buenos Aires, OECD reported that exports rose only 0.3%, with imports up 0.7%, a reflection of protectionist measures taken by the member countries.
