TRADE BALANCE REGISTERS US$1.506 BILLION SURPLUS IN 3RD WEEK OF SEPTEMBER

Data released on September 21 by the Ministry of Finance’s Secretariat of Foreign Trade (SECEX) shows that the Brazilian trade balance registered a surplus of US$ 1.506 billion and a total trade volume of US$ 7.208 billion in the third week of September 2020 – with five working days – as a result of exports worth US$ 4.357 billion and imports of US $2.851 billion.

Exports for the year totaled US$ 150.7 billion and imports totaled US$ 109.6 billion, for a YTD surplus of US$ 41.1 billion and a trade volume of US$ 260.4 billion.

Comparing export daily averages up to the third week of September 2020 (US$ 953.6 million) with that of September 2019 (US $ 966.6 million), there was a decrease of -1.3% due to a decrease in sales of manufacturing products (-14.3%) offset by an increase in agriculture sales (+8.4%) and sales in the extractive industry (+28.0%).

The drop in exports was mainly driven by the decrease in sales of the following products from the manufacturing industry: platforms, vessels and other floating structures (-99.7%); fuel oils from petroleum or bituminous minerals, except crude oils, (-62.0%); decaulified or denervated tobacco (-56.4%); iron or steel works and other common metal articles (-64.2%) and fresh, chilled or frozen poultry meat and its edible offal (-15.7%).

Comparing import daily averages up to the third week of September 2020 (US$ 584.8 million) with that of September 2019 (US$ 785.5 million), there was a decrease of -25.6%. Expenses fell mainly on products from the manufacturing industry (-25.6%) and the extractive industry (-37.4%). There was a slight increase in agriculture expenses (+0.1%).

The fall in imports was mainly driven by the decrease in spending on the following products from the manufacturing industry: platforms, vessels and other floating structures (-98.3%); fuel oils from petroleum or bituminous minerals, except crude oils (-55.7%); iron or steel works and other base metal articles (-72.1%); organic fertilizers or chemical fertilizers, except crude fertilizers (-20.0%) and automotive vehicle parts and accessories (-46.1%). In relation to the extractive industry, the fall in imports is due to the decrease in spending on the following products: crude petroleum oils or bituminous mineral oils, raw (-70.4%); coal, even in powder form, but not agglomerated (-20.9%); natural gas – liquefied or not (-20.4%); other base metal minerals and concentrates (-59.9%) and other crude minerals (-18.7%).

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