São Paulo – Brazil recorded a US$ 174 million trade deficit in the second week of July, according to numbers released this Monday (13th) by the Ministry of Development, Industry and Foreign Trade. The deficit came as a result of US$ 3.66 billion in imports and US$ 3.49 billion in exports. In the previous week, the month’s first, the trade balance had swung to a surplus. <\/p>\n
In the first two weeks of July, however, there was a US$ 462 million surplus stemming from exports worth US$ 6 billion and imports worth US$ 5.58 billion. Year-to-date through the second week of July, there was a US$ 2.6 billion surplus, as a consequence of US$ 100.3 billion in exports and US$ 97.6 billion in imports, according to the ministry. <\/p>\n
Last week, exports averaged US$ 698.8 million a day, down 18% from the first week of the month. Exports declined across the board, by 39% for semi-finished goods, 19% for finished goods, and 12.6% for basic goods. Semi-finished products whose sales weighed down the most on overall performance were raw sugar, wood pulp, semi-finished iron and steel products, copper cathodes, raw soybean oil, synthetic and artificial rubber.<\/p>\n
Finished goods were held back by slower sales of aircraft, fuel oils, auto parts, plastic polymers, cargo vehicles, passenger cars, taps and valves. Basic goods whose sales declined the most include soybean, poultry, soy bran, beef, pork and copper ore. <\/p>\n
Imports were up 14.6% on average per day, to US$ 733.6 million, in the second week of July from the first one, driven by fuels and lubricants, autos and auto parts, organic and inorganic chemicals, pharmaceuticals and steel and iron products. So far this month, average daily imports and exports have both declined. <\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n