Imports to the Arab country also slid last year, by 12%, the Ministry of Trade and Industry reported.
Browsing: trade balance
Brazil’s current account result in 2019 was the worst in four years, Central Bank reported.
Trade balance deficit stood at USD 6.9 billion in 2019, a result of exports at USD 15.5 billion and imports of USD 22.5 billion.
Exchange flow stood negative at almost USD 45 billion last year, breaking the record from 1999.
Foreign sales slid by 20.4% year-on-year to USD 18,23 billion. The trade surplus narrowed by 80%.
Surplus was the result of exports from Brazil of USD 4.244 billion and imports of USD 3.799 billion.
FDI inflows in Brazil slid in both August and year-to-date, but it’s still enough to finance the current account deficit.
Brazil ran a USD 2.3 billion surplus last month, the lowest for the month since 2010. Both exports and imports slid.
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.
Surplus reached USD 662 million last month. This was driven by the trade balance, particularly agricultural exports.
The country exported 3.5% less over the first five months this year. Imports dropped by 3.1% in the same period.
US dollar outflows exceeded inflows in Brazil by USD 1.6 billion last month, according to the Central Bank.
Brazil registered a USD 10.9 billion surplus in the first quarter, an 11% drop over the same period of 2018. In March, the balance stood at USD 5 billion, a 22% reduction.
