YTD Trade balance records a surplus of US$ 31.76 billion, up 59.3%

The trade balance surplus continues at an upward pace and reached US$ 31.76 billion in the YTD result in the second week of June, with growth of 59.3% in the daily average compared to the period from January to June 2020. The trade flow (sum of exports and imports) reaches US$ 208.86 billion in the period, a growth of 30.4%.

Exports in 2021 already total US$ 120.31 billion, an increase of 33.6%, while imports grew 26.3% so far, totaling US$ 88.55 billion. The data were released this Monday, June 14 by SECEX (the foreign trade secretariat of the Ministry of Economy).

In the accumulated result for the month, exports grew 75.3% and totaled US$ 11.67 billion, while imports rose 68.2% and totaled US$ 7.04 billion. As a result, the trade balance registered a surplus of US$ 4.64 billion, an increase of 87.3%, and the flow of trade reached US$ 18.71 billion, increasing 72.6%.

In the second week of June alone, exports totaled US$7.388 billion, while imports totaled US$4.613 billion. Thus, the trade balance registered a surplus of US$ 2.775 billion and the trade flow reached US$ 12.002 billion.

Exports in the month

In exports, comparing the daily average up until the second week of this month (US$ 1.459 billion) with that of June 2020 (US$ 832.33 million), exports increased by 75.3% due to the increase in sales from the extractive industry (201.3%), the manufacturing industry (45.9%), and the agriculture industry (44.4%).

The increase in exports was mainly driven by the growth in sales of the following extractive industry products: iron ore and concentrates (211.9%); crude oils from petroleum or bituminous minerals, crude (224.5%); copper ores and their concentrates (40.2%); stone, sand, and gravel (137%); and other raw minerals (40.3%).

Regarding the manufacturing industry, the highlight was the growth in sales of soy bran and other animal feed, excluding unground cereals, meat, and other animal meal (75.2%); semi-finished products, ingots, and other primary forms of iron or steel (142.3%); civil engineering and construction facilities and equipment, and their parts (227%); sugars and molasses (30%) and pig iron, Spiegel, sponge iron, granules and powder of iron or steel and ferroalloys (79.6%).

Among agricultural products, the rise in exports was driven by the growth in sales of soy (44.1%); unroasted coffee (51.3%); raw cotton (161.9%); raw wood (1,514.8%), and non-oily, fresh, or dried fruits and nuts (63.2%).

Imports in the month

In imports, the daily average until the second week of June 2021 (US$ 879.4 million) was 68.2% above the average of June last year (US$ 522.72 million). In this comparison, purchases mainly increased from the manufacturing industry (75.3%), agriculture and livestock (56.1%), and extractive industry (7%).

In the manufacturing industry, the increase in imports was driven by the growth in purchases of organic or chemical fertilizers, except for raw fertilizers (90.8%); fuel oils from petroleum or bituminous minerals, except crude oils (168.2%); parts and accessories for automotive vehicles (147.4%); thermionic valves and tubes, cold cathode or photo-cathode, diodes and transistors (94.4%), and passenger cars (375.8%).

In agriculture, the rise in imports was mainly due to the purchase of unground wheat and rye (39.5%); whole live, dead or refrigerated fish (137.9%); raw or roasted cocoa (140,850.9%); soy (117%); and latex, natural rubber, balata, gutta-percha, guayule, gum and natural gum (142%).

Finally, in the extractive industry, the rise in imports is mainly due to the purchase of coal, even in powder, but not agglomerated (44.3%); natural gas, liquefied or not (53.6%); other base metal ores and concentrates (159.4%); other raw minerals (46.4%) and stone, sand and gravel (179.9%).

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