{"id":327555,"date":"2023-04-04T11:27:29","date_gmt":"2023-04-04T14:27:29","guid":{"rendered":"https:\/\/anba.com.br\/?p=327555"},"modified":"2023-04-06T10:19:03","modified_gmt":"2023-04-06T13:19:03","slug":"brazils-trade-surplus-forecasted-to-hit-record-usd-84-bn","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/brazils-trade-surplus-forecasted-to-hit-record-usd-84-bn\/","title":{"rendered":"Brazil\u2019s trade surplus forecasted to hit record USD 84 bn"},"content":{"rendered":"<p>Bras\u00edlia \u2013 The reduction of expenses with <strong>imports<\/strong> whose prices have declined in recent months has led Brazil\u2019s Ministry of Development, Industry, Trade and Services to forecast a record trade surplus in 2023. The first estimate of the year forecasts a <strong>surplus of USD 84 billion<\/strong>.<\/p>\n<p>The forecast will be updated every three months. If confirmed, the surplus will be 36.8% higher than the positive result of USD 62 billion in 2022, the highest ever so far.<\/p>\n<p>The <strong>trade balance<\/strong> is expected to climb as imports will decline more than exports. The government forecasts exports to reach USD 325 billion in 2023, down 2.8% from USD 334 billion last year. On the other hand, imports are expected to reach USD 241 billion, down 11.8% from USD 273 billion in 2022.<\/p>\n<p><strong>The reasons<\/strong><\/p>\n<p>The director of Foreign Trade Intelligence and Statistics, Herlon Brand\u00e3o, said there\u2019re two reasons for the record-high result. On one hand, the <strong>price of energy commodities<\/strong> like oil and items like fertilizers are on a downtrend after peaking in the beginning of the Russia-Ukraine war. On the other hand, the economic slowdown can cause a sharp decline in imports as consumption shrinks.<\/p>\n<p>The war between Russia and Ukraine has impacted imports in recent months. Global prices of <strong>fertilizers<\/strong> dropped by 24.4% in March compared to a year earlier. The average price of imported fuels declined 6.2% year on year. The average price of wheat, another product Brazil imports in large numbers, was up 12.2% but slowed down last year, with twelvemonth changes peaking at 60% at some points.<\/p>\n<p><strong>Translated by Guilherme Miranda <\/strong><\/p>\n<p>&nbsp;<\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-316584\">Brazil\u2019s Government<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Development, Industry, Trade and Services expects the 2023 Brazilian trade balance to post the highest surplus ever due to the declining prices of leading imports.<\/p>\n","protected":false},"author":2315,"featured_media":316584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[40502,27711,40504,16962,27715,9561,40503,33719,9562,37946,1941,1964,8431,33721,40501,40446,14306,1810,573],"class_list":{"0":"post-327555","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-and-services","9":"tag-balanca-comercial-en","10":"tag-corrente-comercial-en","11":"tag-exportacoes-en","12":"tag-exportacoes-en-2","13":"tag-exports-en","14":"tag-fertilizer-prices","15":"tag-importacoes-en","16":"tag-imports-en","17":"tag-mdic-en","18":"tag-ministry-of-industry","19":"tag-oil","20":"tag-oil-prices","21":"tag-preco-fertilizantes-en","22":"tag-precos-petrole","23":"tag-precos-petroleo-2-en","24":"tag-precos-petroleo","25":"tag-trade","26":"tag-trade-balance"},"wps_subtitle":"The Ministry of Development, Industry, Trade and Services expects the 2023 Brazilian trade balance to post the highest surplus ever due to the declining prices of leading imports.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/327555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=327555"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/327555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/316584"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=327555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=327555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=327555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}