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Trade balance surpluses $ 409 million in third week of July

Foreign trade

Positive balance was driven by sales of basic and manufactured goods; year-to-date surplus rises to $ 28.258 billion

The Brazilian trade balance  registered a surplus of US $ 409 million in the third week of July, according to a survey released on Monday (22/7) by the Ministry of Economy. The positive balance is the result of US $ 4.829 billion in exports and US $ 4.420 billion in imports, according to  data from the Foreign Trade Secretariat .

In the month, exports total US $ 13.550 billion and imports reach US $ 11.367 billion, with a positive balance of US $ 2.182 billion. Year-to-date exports totaled $ 123.392 billion, with imports of $ 95.134 billion and a positive balance of $ 28.258 billion.

Analysis of the week

Exports of the third week had a daily average of US $ 965.9 million, 10.8% higher than the average of US $ 872 million until the second week. The increase was driven by exports of commodities such as iron ore, corn kernels, soybeans, crude oil, beef and chicken, which rose from $ 473.9 million to $ 554.8 million ( + 17.1%); and manufactured goods, mainly airplanes, gasoline, unfrozen orange juice, plastic polymers and alcohol, which grew from US $ 285 million to US $ 303.1 million (+ 6.3%). 

Exports of semimanufactured products fell 4.5% from US $ 113 million to US $ 107.9 million, driven by raw cane sugar, semi-manufactured gold, copper cathodes, raw aluminum and raw zinc. 

On the import side, the trade balance grew by 27.2% in the third week average (US $ 884 million) compared to the average up to the second week (US $ 694.7 million). The increase was mainly due to spending on cereals and milling industry products, fertilizers, pharmaceuticals, organic and inorganic chemicals, fuels and lubricants. 

Month Review

Comparing the average up to the third week of July 2019 (US $ 903.3 million) with July last year (US $ 1.023 billion), there was a 11.8% drop in exports. The figure reflects the reduction in sales of basic products, mainly crude oil, soybeans, soybean meal, copper ore, beef and chicken, which fell from US $ 577.2 million to US $ 500.9. million (-13.2%); and manufactured as parts of aviation engines and turbines, fuel oils, cargo vehicles, tractors and passenger cars, which decreased from $ 327.2 million to $ 291.1 million (-11.0%). 

In semimanufactured goods, the average exports rose 1.9% until the third week, from US $ 109.2 million in the same period of 2018 to US $ 111.4 million in 2019, driven by ferroalloys, cast iron , raw zinc, semi-manufactured gold, hides and skins. 

Compared to June 2019, exports decreased by 4.8%, due to the reduction in sales of the three product categories: semi-manufactured products (-13.8%, from US $ 129.2 million to US $ 111.4 million). ), manufactured (-7.8% from $ 315.7 million to $ 291.1 million) and basic (-0.5% from $ 503.6 million to $ 500.9 million). 

Imports

In imports, the average through the third week of July 2019 was $ 757.8 million, down 10.6% from the July 2018 period average ($ 847.8 million). In this case, the decrease is mainly due to the reduction of expenses with aluminum and its works (-21.4%), copper and its works (-18.7%), steelmakers (-16.8%), motor vehicles and parts (-16.4%) and filaments and man-made fibers (-14.9%). 

Compared to June 2019, there was a growth of 10.5%, highlighting pharmaceutical products (+ 44%), fuels and lubricants (+ 20.1%), cereals and milling industry products (+ 16.1% ), organic and inorganic chemicals (+ 15.5%) and optical and precision instruments (+ 8.0%).