Economy

Trade balance registers US$1.1 bn deficit for first week of February

Feb, 08, 2021 Posted by Ruth Hollard

Week 202105

Data released on Monday, February 8, by the Ministry of Economy indicate that the Brazilian trade balance registered a deficit of US $ 1.152 billion in the first week of February. In the period, exports totaled US$ 3.667 billion and imports totaled US$ 4.819 billion. When considering the average value per business day, exports fell by 15.3% compared to February 2020 and imports increased by 30.9%.

It is worth remembering that in January, the Brazilian trade balance also registered a deficit, of US$ 1.125 billion.

Exports

The drop in exports was mainly driven by the reduction in fruit and nut exports (-13.4%); unroasted coffee (-39.5%); and soy (-100%).

Agricultural products fell the most (-59.7%), whereas the sale of items from the manufacturing industry fell 11.9% and extractive industry exports registered a 5.2% increase.

Imports

The increase in imports was driven by the purchase of unground corn (154.9%); raw or roasted cocoa (183.7%); stone, sand, and gravel (34.3%); chemical fertilizers or organic fertilizers (92.2%); and aluminum (175.8%).

Regarding performance by sector, there was a 34.9% increase in imports of products from the manufacturing industry. On the other hand, purchases of agricultural products fell 1.9% and purchases of extractive products fell 17.6%.

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