YTD trade balance registers a surplus of US$ 39.75 billion, up 49.3%

The Brazilian trade balance registered a surplus of US$ 39.75 billion in the year-to-date results up to the second week of July, up 49.3% by the daily average compared to the period from January to July 2020. The trade flow  (sum of exports and imports) reached US$ 248.56 billion in the period, an increase of 32.7%.

This trade flow reflects the performance of exports, which reached US$ 144.16 billion, up 34.8%, and of imports, which increased 30%, reaching US$ 104.41 billion. The data were released this Monday (July 12) by SECEX (the foreign trade secretariat of the Ministry of Finance).

Exports accumulated in the month rose 39.9%, reaching US$ 8.27 billion, while imports totaled US$ 5.25 billion, increasing 46%. Therefore, the trade balance registered a surplus of US$ 3.02 billion, an increase of 30.5%, while the trade flow totaled US$ 13.52 billion, increasing 42.2%.

Considering only the second week of July, exports totaled US$ 5.576 billion, and imports totaled US$ 3.563 billion. Thus, the trade balance had a surplus of US$ 2.013 billion, and the trade flow reached US$9.139 billion.

July Exports

Comparing the daily average exports up to the second week of this month (US$ 1.181 billion) with that of July 2020 (US$ 844.17 million), exports increased by 39.9%, with high sales in these three segments: Extractive Industry (83.4%), Manufacturing Industry (36.5%), and Agriculture (3.5%).

In the Extractive Industry, the increase in exports was mainly driven by the growth in sales of iron ore and its concentrates (+97.4%); crude oils from petroleum or bituminous minerals (+82.1%); copper ores and concentrates (+25.1%); other raw minerals (+22.1%); and stone, sand and gravel (+22.1%).

Regarding the Manufacturing Industry, exports were driven by increased sales of petroleum fuel oils or bituminous minerals, except for crude oils (+136.6%); semi-finished products, ingots, and other primary forms of iron or steel (+218.5%); soy pulp and other animal feed, meat, and other animal meal (+83.1%); fresh, chilled, or frozen poultry meat and its edible offal (+63.5%); and fresh, chilled or frozen beef (+35%).

Among agricultural products, the rise in exports was driven by growth in soybean sales (+19.8%); raw wood (+446.5%); raw cotton (+15.8%); vegetables, fresh or refrigerated (+21.7%); and unroasted coffee (+1.9%).

Imports

In imports, the daily average until the second week of July 2021 (US$ 750.05 million) was 46% above the average of July last year (US$ 513.69 million). This was mainly due to increased imports of products from the Extractive Industry (+112.9%), the Manufacturing Industry (+44.1%), and Agriculture (+24.5%).

In the Extractive Industry, the highlights were purchases of crude petroleum oils or bituminous minerals, crude (+147.4%); copper ores and their concentrates (+1,505.8%); other ores and base metal concentrate (+265.8%); coal, even powder, but not agglomerated (+29.1%); and raw fertilizers, except organic fertilizers (+102.3%).

In the Manufacturing Industry, the increase in imports was driven by purchases of petroleum fuel oils or bituminous minerals, except for crude oils (+133.1%); parts and accessories for automotive vehicles (+145.8%); semi-finished products, ingots, and other primary forms of iron or steel (+8,578.5%); fertilizers or chemical fertilizers, except raw fertilizers (+25.1%); and thermionic valves and tubes, cold cathode or photo-cathode, diodes, transistors (+51.5%).

Finally, in the Agriculture sector, the rise in imports was highlighted in the purchase of latex, natural rubber, balata, gutta-percha, guayule, chewing gum, and natural gums (+198.5%); whole live, processed, or refrigerated fish (+87.1%); soy (+31%); unground corn, except for sweet corn (+134.7%); and wheat and rye, not ground (+2.2%).

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