São Paulo – The Brazilian balance of trade had a US$ 9.9 billion surplus from January to July this year, down 38.2% from the same period of 2011, during which the surplus was US$ 16.1 billion. According to figures issued this Wednesday (1st) by the Brazilian Ministry of Development, Industry and Foreign Trade, from January to July 2012, Brazil exported the equivalent of US$ 138.2 billion, down 1.7% from 2011. During the period, the country imported the equivalent of US$ 128.3 billion, up 3.1% from the same month of last year.
According to the executive secretary of the Ministry, Alessandro Teixeira, the trade balance is performing at a “satisfactory rate” considering the scenario of downturn in global trade.
In July, Brazil exported US$ 21 billion, down 9.9% from July 2011. Imports during the month reached US$ 18.1 billion, down 9.5% from July last year. The trade balance posted a US$ 2.8 billion surplus, and bilateral trade amounted to US$ 39.1 billion. Also in July, sales of basic products were down 10.7%, sales of semi-manufactured goods were down 12.5%, and sales of manufactured goods were down 7.6%.
In terms of basic products, iron ore exports declined the most in July. Exports of the product were down 27.5% from July 2011. Oil exports were down 36.4%. Basic products whose sales have increased include soybean, up 16.6%, soy bran, up 45.2%, and maize, up 398.5%.
In terms of semi-manufactured products, sales of raw sugar dropped by 19.3%, and iron exports dropped by 35.5%. Ferroalloys exports were up 49.3%, and hides and skins exports were up 3.2%. As for manufactured goods, refined sugar exports were down 57% from July 2011. Auto exports were down 22.9%. Aircraft exports were up 279%, fuel oils exports were up 22%, and ethanol exports were up 70.7%.
According to the ministry’s Foreign Trade secretary, Tatiana Prazeres, the decline in manufactured goods exports was milder than those of other categories, and prevented an even sharper retraction in year-to-date results.
The main targets of Brazilian exports in the first seven months of the year were China, which imported the equivalent of US$ 25.1 billion, the United States, at US$ 16.2 billion, Argentina (US$ 10.3 billion), Netherlands (US$ 8.3 billion) and Germany (US$ 4.2 billion). China was also the main source of Brazilian imports. Chinese exports to Brazil reached US$ 18.9 billion from January to July. During that period, the United States exported US$ 18.7 billion to Brazil, followed by Argentina (US$ 8.7 billion), Germany (US$ 8.2 billion) and South Korea (US$ 5.4 billion).
From January to July, Brazilian exports to the Middle East reached US$ 5.9 billion, down 11.2% from the same period of 2011. Exports to the region accounted for 4.3% of total exports. On the other hand, exports from the Middle East to Brazil were up 39.9%: imports from the region reached US$ 4.6 billion, equivalent to 3.7% of total Brazilian imports from January to July this year.
*Translated by Gabriel Pomerancblum
