São Paulo – Brazilian trade balance started October on a surplus. According to data released this Monday (13th) by the Ministry of Development, Industry and Foreign Trade (MDIC), the surplus between the 1st and 12th stood at US$ 140 million. Year-to-date, however, the balance is still on a deficit.
On the first eight business days of October by Sunday (12th), Brazil exported US$ 6.752 billion worth in goods, averaging at US$ 844 million per day. According to the MDIC, this result accounts for a decline of 14.9% from October last year. According to data from the ministry, manufactured and basic goods exports were down in the period while semi-manufactured goods exports increased.
Manufactured goods were down 26.1% driven by the decline in exports of passenger cars, aircrafts, vehicle parts and engines and earth leveling machines. Basic goods declined by14.2%, due to poor performance of iron ore, soy bran, maize and soybean exports. Semi-manufactured exports in the first two weeks of the month were up 19%, pushed up by sales of cast iron, raw sugar, ferroalloys, wood pulp and leathers and hides.
Imports decline
According to data from the MDIC, a total of US$ 6.612 billion worth in goods was imported in the first two weeks of the month, averaging at US$ 826.5 million per day. According to the ministry, the daily average value of imports was 17.5% smaller than the figures seen last October. Fuels and lubricants imports declined by 43.2%; auto and auto parts declined by 32.1%; mechanical equipment contracted by 17% and steel products by 13.1%.
Year-to-date through last Sunday, Brazilian exports grossed US$ 180.387 billion while imports amounted to US$ 180.941 billion. Year-to-date, deficit is running at US$ 554 million. In the same period last year, the country was running a surplus of US$ 812 million.
*Translated by Rodrigo Mendonça
