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Brazil’s trade balance at surplus of US$2.475 billion in first week of May
May, 11, 2020 Posted by datamarnewsWeek 202020
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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