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01/09/2017 - 18:01hs

August saw record trade surplus

Exports from Brazil came out to USD 19.475 billion last month, with imports reaching USD 13.876 billion and resulting in a USD 5.599 billion surplus, an all-time high for the month.

São Paulo – Exports from Brazil amounted to USD 19.475 billion in August, up 14.7% year-on-year as per average daily numbers. Imports came out to USD 13.876 billion, up 8% and leading to a USD 5.599 billion trade surplus, the highest on record for the month and up 35.3% year-on-year, the Brazilian Ministry of Industry, Foreign Trade and Services said this Friday (1).

Foreign sales were up 24.2% for basic goods, 9.75 for semi-finished goods – especially maize, copper ore, beef, soy, crude oil, poultry, pork, iron ore, fuel oils, orange juice, flat-rolled products, earth-moving machinery, automobiles, tractors, aluminum oxides and hydroxides, vehicle motors and their parts, auto parts, pneumatics, pharmaceuticals, raw zinc, wood pulp, semi-finished iron and steel products, ferroalloys and timber.

Sales to Africa soared by 42% in August on the back of maize, sugar, iron ore, beef, poultry, semi-finished iron and steel products, copper rods, aluminum rods and rice. Exports to the Middle East slid by 18.9% due to weaker sales of soy, ammunition, iron ore, maize, refined sugar, cast iron pipes, copper bars, soya bran, raw sugar and poultry.

Imports to Brazil increased for fuel and lubricants (56.6%), capital goods (6.6%), intermediate goods (4.8%) and consumer goods (1%).

Year-to-date through August, exports from Brazil fetched USD 145.946 billion, with average daily sales up 18.1% year-on-year. Imports reached USD 97.837 billion, up 7.3% and leading to a USD 48.109 billion trade surplus, up 48.6% year-on-year, also an all-time high for the period.

Agência Brasil quoted the Ministry as saying the primary driver of this wider surplus was the hike in prices of exported goods, especially commodities, with average prices going up 13% overall on average year-to-date through August. Shipped volume was up 4.4%.

Agência Brasil also said the Ministry estimates a USD 60 billion surplus will have been reached by the end of the year.

*Translated by Gabriel Pomerancblum

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