São Paulo – Brazilian exports declined and imports grew in the third week of October. As a consequence, the trade balance showed a US$ 724 million deficit, according to figures released this Monday (20th) by the Brazilian Ministry of Development, Industry and Foreign Trade. <\/p>\n
From October 13th to 19th, the country exported the equivalent of US$ 3.913 billion, or US$ 782.6 million per business day, down 7.3% from the first two weeks of the month. In turn, imports were up 12.2% to US$ 927.4 million on average per business day. In total, Brazil imported US$ 4.637 billion worth of products in the third week of October. <\/p>\n
According to a press release from the ministry, semi-manufactured goods exports were down 24.6% in the third week of October from the first two weeks. The decline was mostly a consequence of lower sales of raw sugar, wood pulp, semi-manufactured iron and steel products, cast iron and ferroalloys.<\/p>\n
Manufactured goods exports were down 10.1% as a result of lower sales of plastic polymers, vehicle engines, non-frozen orange juice, engines and generators and flat-rolled steel. <\/p>\n
Conversely, basic goods exports were up 0.4%, driven by iron ore, crude oil, soy bran and coffee beans.<\/p>\n
Higher imports <\/strong><\/p>\n Imports increased as a consequence of fuels and lubricants, mechanical equipment, home appliances, autos and auto parts and fertilizers. <\/p>\n In the first two weeks of October, there was a US$ 140 million trade surplus. After factoring in last week’s results, the Brazilian trade balance is running a US$ 584 million deficit month-to-date in October. Year-to-date in 2014, the deficit stands at US$ 1.278 billion. In the comparable period of 2013, the deficit stood at US$ 757 million.<\/p>\n *Translated by Gabriel Pomerancblum<\/strong><\/p>\n