Brazilian trade totals US$35bn in January, the highest since 2014

According to government data, Brazil’s exports were up 9.1% in January to a record US$18.6bn year-on-year. Meanwhile, the country’s imports grew 15.37% to US$ 16.4bn year-on-year. Both the totals are based on daily averages in January. Thus, the South American giant saw a 12% higher trade flow of US$35bn in January YoY, the highest since 2014. The following chart (based on Secex data) shows Brazil’s 10-year trade balance for the month of January: 

China is Brazil’s top export destination, with export revenues up 20% to US$3.879bn YoY, followed by Japan with 20% YoY growth. The European Union imported 5.6% less compared to January last year. The main products exported included oil, soy, coffee, pulp, iron, and steel.

Datamar has reported that Brazil’s SECEX foreign trade data system, which usually classifies export and import data by transport type (Maritime/Rail/Air etc.) has been significantly impacted by the implementation of the new foreign trade system.

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