Brazil’s Trade Balance Surges 104.9% YoY in the 2nd week of May

Official data released by the Brazilian government on Monday, May 15, show that the country’s trade balance totaled USD 4.16 billion in the second week of May, a growth of 104.9% compared to the same month last year in terms of foreign exchange revenue.

From January to May 2023, the trade balance accumulated US$ 28.06 billion. This is an increase of 26.6%.

Exports

Until the second week of the month, exports grew 12%, totaling US$ 13.58 billion.

From January to the second week of May 2023 (YTD), compared to the same period last year, there was an increase of 1.9%, totaling US$ 116.90 billion.

In the period, agribusiness exports added up to US$ 3.95 billion, with a growth of 21%. The highlights observed in May were:

• Soy: US$ 3.948 billion, up 27.31%
• Unroasted coffee: $255.55 million, up 6.7%
• Poultry: US$ 380.64 million, up 11.37%

Imports

Imports totaled US$ 9.42 billion, down 6.7% compared to the second week of May 2022. Between January and May 2023, the drop is 4% compared to the same period in 2022, totaling US$ 88.84 billion.

In the period, imports of agricultural commodities fell 36%, thus adding up to US$ 140 million. Some of the items that experienced the biggest retreats in May were:

• Wheat and Rye, Unground: $39.09 million, down 47.80%
• Vegetables, fresh or refrigerated: $12.47 million, down 24.35%
• Whole fish, live, dead, or refrigerated: $23.81 million, down 17.25%.

Source: Money Times e Secex

To read the original news report, go to: https://www.moneytimes.com.br/balanca-comercial-do-brasil-atinge-us-416-bilhoes-soja-cafe-e-aves-sao-destaques/

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