Trade balance registers a lower-than-expected US$7.4 billion surplus in July

The Brazilian trade balance registered a lower-than-expected surplus of 7.4 billion dollars in July, reached amid the expressive rise in imports, disclosed the Ministry of Economy on Monday. The expectation was for a surplus of 8.694 billion dollars according to a Reuters poll of economists.

The result was below the surplus of 7.6 billion dollars in the same month last year, a record value for the period of the historical series started in 1989.

In July this year, exports totaled US$25.5 billion, up 37.5% by the daily average, compared to the same period in 2020. Imports, on the other hand, rose 60.5% on the same basis of comparison, at 18, 1 billion dollars.

Purchases were driven by the 163.2% increase in the Extractive industry products, always based on the daily average. However, imports of items from Manufacturing (+57%) and Agriculture (+48.2%) industries also grew.

According to the Ministry of Economy, there was a strong increase in imports of crude petroleum oils (+149%) and natural gas (+254%).

The increase in exports was also driven by the 62.7% growth in shipments of products from the Extractive Industry, with increases of 37.7% in the Manufacturing industry and 11.2% in Agriculture.

From January to July, the trade balance registered a surplus of 44.1 billion dollars, against a positive balance of 29.9 billion dollars in the same stage of 2020.

Source: Earth

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