Brasília – After sliding for two months, Brazil’s trade surplus went back up in May. Last month saw a USD 6.422 billion surplus, up 5.8% from USD 6.073 billion in May 2018. The figures were released this Monday (3) by the federal government’s Secretariat of Foreign Trade.
This was the third widest result on record for the month, trailing May 2017 (USD 7.661 billion) and May 2016 (USD 6.43 billion). Year-to-date through May, Brazil posted a USD 22.806 billion, down 5.9% year-on-year.
May 2019 exports came out to USD 21.394 billion, up 5.6% from May 2018 based on daily averages. Finished goods exports were up 29.5%, driven by sales of gasoline, fuel oils, flat-rolled iron and steel products, and aircraft engine parts and turbines.
Semi-finished goods exports were up 15.4% year-on-year as per daily averages, driven by cast iron, semi-finished iron or steel products, and raw soya oil. Despite the fact that the crop season has begun, basic goods exports were down 3.9%, driven by slower exports of copper ore, soybeans and soy bran.
Imports amounted to USD 14.972 billion, up 7.8% year-on-year in daily average numbers. Fuel and lubricant imports were up 27.5%, buoyed by an international oil price hike that lasted the majority of the month.
Capital goods imports were up 16.4%. Intermediate goods imports climbed 6.4%, while consumer goods imports dropped 6.5% on the back of a US dollar hike.
Translated by Gabriel Pomerancblum
