Brazilian trade balance registers $2 bi surplus in October

The Brazilian trade balance registered a surplus of US$ 2.003 billion in October, a drop of 54.5% compared to the same period in 2020 based on the daily average, according to figures released this Wednesday, November 3 by SECEX, the foreign trade secretariat of the Ministry of Economy.

The YTD trade balance in October totals US$ 58.578 billion, an increase of 29.6% over the same period in 2020.

Exports totaled US$ 22.519 billion last month. According to the daily average, there was an increase of 27.6% over the same month in 2020. Imports, on the other hand, reached US$ 20.515 billion and increased 54.9% compared to October 2020 based on the daily average.

In the YTD figures, exports totaled US$ 235.870 billion, an increase of 36%, based on the daily average, compared to the same period in 2020. Imports, on the other hand, totaled US$ 177.291 billion, an increase of 38.3% on the same basis of comparison.

By sector
Based on the October daily average, exports in the agricultural sector grew 19.36%, compared to the same month of the previous year. In mining and quarrying, there was an increase of 40.54% and in the manufacturing industry, 24.44%.

On the import side, there was an increase of 45.09% in imports from agriculture, 141.74% in the extractive industry, and 51.38% in manufacturing.

Projections
In its most recent projection, the secretariat estimates that the trade balance will register a surplus of US$ 70.9 billion in 2021, the result of US$ 281.0 billion in exports and US$ 210.1 billion in imports. The trade flow would be at US$ 491.1 billion.

Source:  Valor Econômico

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