Brazil announces USD 10.59 billion surplus in June

The Ministry of Development, Industry, Commerce, and Services announced that the trade balance in June accumulated a surplus of US$ 10.59 billion.

When exports exceed imports, the result is a surplus, whereas a deficit is reported when the opposite occurs.

In June, exports totaled US$ 30.1 billion, while imports amounted to US$ 19.5 billion.

Brazil’s main trading partners last month were:

• Argentina: a surplus of US$ 1.04 billion
• USA: a surplus of US$ 0.20 billion
• China, Hong Kong, and Macau: a surplus of US$ 4.86 billion
• European Union: a surplus of US$ 0.45 billion

H1 in a nutshell

According to the Ministry of Development, Industry, Commerce, and Services, the trade balance in the first six months of this year showed a positive balance of US$ 45.5 billion, compared to a surplus of US$ 34.3 billion in the same period of 2022. This represents a 32.9% increase in the daily average.

Compared to the first half of 2022, exports to Asia, South America, and North America saw an increase.

Exports reached US$ 1.34 billion between January and June, the highest level in the track record that began in 2018. In the same period of 2022, the value was US$ 1.32 billion.

Agricultural products experienced a 7% growth in exports during the semester. The performance was driven mainly by soybeans, corn, live animals, rice, and seeds such as sunflower, sesame, canola, and cotton.

There was a 7.1% decrease in imports compared to the previous year. Brazil’s imports amounted to US$ 972.89 million, down from approximately US$ 1.05 billion in 2022.

Source: G1

To read the original news story, visit: https://g1.globo.com/economia/noticia/2023/07/03/balanca-comercial-tem-superavit-de-us-106-bilhoes-em-junho.ghtml

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