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Trade balance now brings product classification by industry

Foreign trade

New methodology, detailed by subheadings of the Uniform Classification for International Trade (CUCI), gives more transparency to data

The Foreign Trade Secretariat of the Ministry of Economy (Secex / ME) has adopted a new methodology for the disclosure of weekly results of foreign trade in goods. The model adopts the new product classification according to the economic activity sector - Agriculture, Extractive Industry, Manufacturing Industry -, detailed by the subheadings of the Uniform Classification for International Trade (CUCI). These classifications are international, recommended by the United Nations, and used by other statistical compilers. 

“Another improvement is the fact that the publication is more extensive, with more analysis, and presents a complete product list that applies to both exports and imports,” said Undersecretary of Intelligence and Foreign Trade Statistics, Herlon Brandão. .

With the new rankings, Secex seeks to further align the compilation and dissemination of statistics with the  International Merchandise Trade Statistics (IMTS) , a foreign trade reference manual. The new methods also provide greater consistency and comparability of the information disclosed, both with data from other countries and with IBGE information, for example. The new publication, available in the Foreign Trade Statistics area of the Ministry of Economy's portal, is automatically generated, reducing the possibility of errors and increasing the quality and transparency of Brazilian trade balance data.

Aggregate Factor Replacement

These classifications should be adopted in all official disclosures of foreign trade statistics, replacing the Aggregate Factor - which is subdivided into basic, semimanufactured and manufactured - and its product openings. “In order to prevent users from suffering an abrupt discontinuity, a matching list will be released between the old Aggregate Factor classification and the new International Classification of Goods by Economic Activity (Ciba),” explained Brandão.

He noted that because they are subject to the volatility imposed by the very origin of export and import data - corrections, updates, adjustments and cancellations - weekly publications are preliminary. Therefore, they should be discarded after the publication of monthly consolidated data. The undersecretary also pointed out that Brazil is the only country that discloses weekly all the flow of exports and imports of goods in a disaggregated manner.

More hits

The Weekly Trade Balance is one of the most accessed products on the portal of the Ministry of Economy. There were about 150 thousand hits in the last year alone, from press professionals, investors, researchers, entrepreneurs and the general public interested in foreign trade. 

The new product is currently undergoing testing and the usual publication will be discontinued in the first half of 2020. “Over the coming months, the monthly Monthly Trade Balance, Comex Stat, Comex Vis and Historical Series publications will also be adjusted to include the new official classifications ”, anticipated Herlon Brandão.

know more

Key points of the new Weekly Trade Balance publication:

  • Sectors Table, in greater detail, standardized for export and import, showing the current month accumulated (weeks accumulated) at the Sectors and Products level (CUCI).
  • New graphs and tables, keeping the descriptive aspect and seeking to expose more analytical aspects.
  • Publications were automated, reducing the chance of errors caused by manual cooking.
  • The Commodities table has been maintained in the current disclosure framework.