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Trade balance reaches surplus of US $ 1.08 billion in the third week of September

Trade

Semimanufactured and basic products increased in the period. Exports reach US $ 9.108 billion and imports US $ 6.654 billion

The trade balance registered a surplus of US $ 1.080 billion in the third week of September, a result of exports of US $ 4,550 billion and imports of US $ 3,470 billion. The data are part of the publication  of the Ministry of Industry, Foreign Trade and Services, released on Monday (18).   

In the month, exports reach US $ 9,108 billion and imports US $ 6.654 billion, with a positive balance of US $ 2.454 billion. In the year, exports are US $ 155.050 billion and imports, US $ 104.491 billion, with a positive balance of US $ 50.560 billion.

In the third week of the month,  sales of semimanufactured products increased (25.6%, due to cellulose, semimanufactured iron and steel, raw sugar, semimanufactured gold and raw aluminum) and basic products (7, 5%, on account of crude oil, iron ore, soybean meal, soybeans, and salted meats).

In imports, there was a growth of 9% over the same period explained mainly by the increase in expenses with steel, plastics and construction, organic and inorganic chemicals, fuels and lubricants, mechanical equipment and vehicles and parts.

Monthly Review

In exports, compared to the averages up to the third week of September (US $ 910.8 million) with the average of September 2016 (US $ 752.4 million), there was a growth of 21.1%. The reason for the increase in sales is due to three categories of products: basic (33.5%), such as soybeans and corn in grains, iron ore, meats and crude oil; (16.4%), such as passenger cars, taps, valves and parts; and semimanufactured products (7.4%), such as cellulose, ferro-alloys, semi-manufactured gold and cast iron.

The daily average of imports up to the third week of this month (US $ 665.4 million) was 16.6% above the average of September last year (US $ 570.8 million). In this comparison, expenditures increased mainly with fertilizers (32.8%), organic and inorganic chemicals (32%), electrical and electronic equipment (31.5%), motor vehicles and parts (20.4%) and equipment mechanics (17.4%).

Compared to August of this year, there was a 7.6% increase in exports, due to the increase in sales of semimanufactured products (15%), manufactured products (7.6%) and basic products (6.9%). In imports,  there was a growth of 10.3%, due to the increase in steelmakers (39%), organic and inorganic chemicals (27.6%), mechanical equipment (24.8%), plastics and works (20.6%) and electronic equipment (10.4%).

Source: Ministry of Industry, Foreign Trade and Services