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.
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Although February saw a negative result, the deficit was narrower than a year ago.
Trading volume grew in four areas of the segment, including supermarkets.
The number was the result of USD 5.406 billion in exports and USD 3.64 billion in imports.
According to survey, Brazilian trade generated 2.66% more this year than in the same period of 2017.
An index from think tank FGV which tracks business owner outlook climbed 5.7 points in December from November of this year.
Brazil’s AEB forecasts foreign sales will fetch USD 220 billion next year, down 7.7% from 2018. Imports are expected to go up, making for a narrower trade surplus.
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.
The World Trade Outlook Indicator, measured by the organization, is at 98.6 points, the lowest level since October 2016, which signals a possible slowdown in 2018’s last months.
Such was the total amount of imports, exports and re-exports to and from the emirate during the first half of 2018.
The business meeting will take place on November 7, in São Paulo, and will be attended by the country’s minister of Investment and International Cooperation, Sahar Nasr, and Mohab Mamish, chairman of the Suez Canal Authority, plus business owners.
The organization’s new forecast for growth in trade volume in 2018 went from 4.4% to 3.9% in face of the trade war between the United States and China and the volatility in exchange rates.
The period saw USD 5.389 billion worth of goods shipped from Brazil, while imports came out to USD 3.707 billion.
Mohammed Alhayki is leaving Brazil after a near-six-year stint, and the organization offered a farewell dinner. Bilateral trade increased and grew more diverse during his tenure.
