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Exports in Brazil reach a record number in October, says FGV

Foreign trade

Indicator of the institutional point of view for agriculture and the sale of automobiles as the main responsible for the performance

In the wake of the good results of the Brazilian trade balance, the monthly foreign trade indicator of the Getulio Vargas Foundation (ICOMEX-FGV) reached a record high. In October, there was a 31.7% increase in exports, the highest sales volume reached in the year. Imports, on the other hand, grew 26% in the same period. 

According to the entity, the result was strongly influenced by exports of the agricultural sector, whose growth was 151.2% in the period, a record for this segment. Afterwards, the performance was strengthened by the exports of the processing industry, with a 25.7% increase and the extraction, with a 21.4% increase in sales abroad.  

The result comes in line with the successive records recorded in foreign trade. This year, according to data from the Ministry of Industry, Foreign Trade and Services (MDIC), the trade balance figures should reach the mark of US $ 70 billion, a historical record for the indicator.

Vehicles

In the case of the processing industry, FGV highlighted the good performance of car exports, especially for new markets, such as Saudi Arabia. This year, sales in the automotive sector have been positively impacting the Brazilian trade balance. In part, this is explained by the recovery of the sector, which is expected to reach record exports this year, according to Anfavea, entity representative of the automakers. 

The balance of trade accounts for all exchanges between Brazil and the rest of the world. When exports exceed imports - when the country sells more than the purchase -, this means that there was a trade surplus. It is important to achieve positive balances, since it is a sign that the Brazilian economy is solid and competitive in relation to the world.

Source: Government of Brazil, with information from FGV , MDIC and Anfavea