São Paulo – Brazilian trade balance returned to deficit in the past week. According to data released this Monday (22nd) by the Ministry of Development, Industry and Foreign Trade (MDIC), from September 15th to 21st, exports amounted to US$ 4.545 billion while imports stood at US$ 4.587 billion, resulting in a deficit of US$ 42 million. In the week of 8th to 14th, trade balance ran a surplus while imports surpassed exports in the first week of the month.
According to the MDIC, exports in September averaged at US$ 884.5 million per day, down 10.9% from the daily average in September last year. In the period, as per the Ministry’s survey, foreign sales have declined across all three product categories.
Basic goods exports were down 14% based on average daily figures, driven mainly by declines in sales of maize, iron ore, soy bran, beef and oil. Sales of semi-manufactured goods were down 11.2% due to declines in exports of raw soy oil, copper cathodes, raw sugar and raw aluminium. Sales of manufactured goods were 8.6% smaller, highlighting passenger cars, fuel oils, cargo vehicles, auto parts, engines for vehicles and tractors.
In the first three weeks of September, imports amounted to US$ 934.9 million, up 4.1% from September last year, which saw imports average at US$ 898 million per day. Fuels and lubricants imports grew the most, up 43.3%, followed by pharmaceuticals, up 7.1%, steel products, up 2.3% and plastic and plastic products, up 0.9%.
According to the MDIC’s survey, month-to-date through last Sunday (21st) deficit is running at US$ 756 million. Year-to-date, deficit is US$ 507 million. In the same period last year, deficit by the third week of September reached US$ 2.245 billion.
*Translated by Rodrigo Mendonça
