Brazil reaches trade surplus of US$329 million in second week of March

Brazil registered a trade surplus of US$329 million and total trade flow of US$7.4 billion, in the second week of March. According to data released on March 16 by the Foreign Trade Secretariat (Secex) of the Economic Ministry (ME), exports reached US$3.9 billion and imports US$3.5 billion. During the month, exports totaled US$8.7 billion and imports US$7.3 billion, with a positive balance of US$1.3 billion and a trade flow of US$16 billion. For the year to date, exports totaled US$39.5 billion and imports US$36.8 billion, with a positive balance of US$2.7 billion and a trade flow of US$76.3 billion.

Analysis of the week
The export average in the second week reached US$770 million, 20% below the average of US$962 million in the first week, due to a drop in exports of semi-manufactured goods, commodities and manufactured goods.  On the import side, there was a 7.6% decrease in the second week’s average (US$ 704.2 million) over the first week’s average (US$762.4 million), mainly explained by the reduction in spending on fuels and lubricants, pharmaceuticals, organic and inorganic chemicals, motor vehicles and parts, optical and precision instruments.

Analysis of the Month

There was a 5.6% decrease in exports in the second week of March 2020 (US$866 million) year-on-year, due to the decrease in sales of several product categories such as commodities and manufactured goods.  On the other hand, sales of semimanufactured products increased. In relation to February 2020, there was a 4.7% decrease.

On the import side, the daily average until the second week of March 2020 was 6.1% higher than year-ago levels at US$733.3 million.  This was due to increased spending on aircraft and parts, electronic equipment, organic and inorganic chemicals, plastics and construction, and mechanical equipment.  There was a 0.5% decrease in imports compared with the same period in February.

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