Brazil Trade Balance Surplus Totals US$ 1.738 Bln in the 2nd Week of May

Brazil’s trade balance continued to build up in the second week of May, recording a surplus of US$1.738 billion. This figure, derived from exports totaling US$7.224 billion and imports of US$5.486 billion, was reported by the Foreign Trade Secretariat (Secex) of the Ministry of Development, Industry, Commerce, and Services (MDIC) on Monday, May 13th.

In the preceding week, which included only two business days, the trade balance showed a surplus of US$1.467 billion. Exports amounted to US$4.023 billion, while imports stood at US$2.556 billion.

For the month of May up to the 12th, the trade balance accrued a surplus of US$3.205 billion. Exports reached US$11.247 billion, with imports totaling US$8.042 billion. Year-to-date, Brazil maintains a positive trade balance of US$30.940 billion. Total exports for the year up to May 12th amounted to US$120.096 billion, while imports reached US$89.156 billion.

Secex data revealed an 8.2% growth in exports compared to May 2023, with imports increasing by 16.5% based on daily averages.

By sectors, until the second week of the month, there was a growth of 2.7% in Agriculture, a drop of 1.9% in the Extractive Industry, and a growth of 15.8% in the Manufacturing Industry. This increase in exports was primarily driven by the growth in sales of the following products: Live animals, excluding fish or crustaceans (83.8%), Unroasted coffee (94.4%), and Raw cotton (464.8%) in Agriculture; Stone, sand, and gravel (123.0%), Copper ores and their concentrates (37.2%), and Coal, even in powder form, but not agglomerated (214.3%) in the Extractive Industry; Sugars and molasses (34.8%), Cellulose (104.3%), and Fuel oils from petroleum or bituminous minerals (except crude oils) (21.6%) in the Manufacturing Industry.

Regarding imports, the performance by sector in May compared to the same month in 2023 showed a growth of 64.2% in Agriculture, an increase of 70.6% in the Extractive Industry, and a rise of 11.7% in the Manufacturing Industry. The highlight in imports included purchases of: Wheat and rye, not ground (116.1%), Fruits and non-oil nuts, fresh or dried (71.9%), and Soybeans (95,224.1%) in Agriculture; Raw fertilizers (except fertilizers) (125.7%), Crude petroleum oils or bituminous mineral oils, raw (130.7%), and Natural gas, liquefied or not (310.9%) in the Extractive Industry; Petroleum or bituminous mineral fuel oils (except crude oils) (45.4%), Medicines and pharmaceutical products, except veterinary (119.0%), and Non-electric motors and machines, and parts thereof (except piston engines and generators) (42.2%) in the Manufacturing Industry.

Source: Folha Vitória

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