Brazil’s trade balance at surplus of US$2.475 billion in first week of May

According to data from the Foreign Trade Secretariat (Secex) of the Economy Ministry, Brazil’s trade balance registered a US$2.475 billion surplus and a trade flow of US$9.414 billion in the first week of May 2020, as a result of exports worth US$5.945 billion and imports of US$3.47 billion.  In the year-to-date, exports totaled US$73.306 billion, and imports US$59.031 billion, with a positive balance of US$14.275 billion and a trade flow of US$132.336 billion.

Monthly Analysis

The export average in the first week of May 2020 (US$1,188.9 million) compared with that of May 2019 (US$936.02 million), was up 27%, driven by an increase in agriculture (+ 104.5%) and manufacturing exports (+ 15.5%). Meanwhile, mining sector exports dropped (-16.7%).

Within agribusiness, the main export increases were derived from soy (+ 124.1%); unroasted coffee (+ 74.5%); raw cotton (+ 45.7%); paddy or raw rice (+ 756.1%) and spices (+ 183.0%). In the manufacturing industry, export growth was driven by higher sales of sugars and molasses (+ 140.2%); fresh, chilled or frozen beef (+ 114.5%); non-monetary gold – excluding gold ores and concentrates – (+ 144.9%); soy bran (+ 70.3%) and cellulose (+ 37.2%).

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