Brazil’s Trade Balance Hits US$ 1.9 Billion Surplus In First Week Of October
The trade balance recorded a surplus of US$ 1.902 billion in the first week of October, resulting from US$ 5.059 billion in exports and US$ 3.157 billion in imports. The data was published this Monday 9 October by the Ministry of Industry, Foreign Trade and Services.
Sales of basic goods have increased in the first week of the month compared to the same period of last year, driven chiefly by larger shipments of crude oil, iron ore, bulk maize, soybeans, poultry and beef. Semi-manufactured goods also had better performance, especially iron and steel, raw sugar, pulp, ferro-alloys and gold in semi-manufactured form.
Manufactured good sales are up 22.8% from last year, a stark increase driven especially by increased exports of passenger cars, frozen orange juice, ethanol, cargo vehicles, flat iron and steel.
Imports have risen 11% in the same comparison basis, chiefly due to higher purchases of fuels and lubricants, iron and steel, organic and inorganic chemicals, electrical and electronic equipment and motor vehicles and parts.
So far, the Brazilian trade balance has an accumulated surplus of almost US$ 55.1 billion in 2017, the highest since the MDIC began monitoring the statistical time series in 1989.
This is higher than the entire surplus registered last year, which reached US$ 47.7 billion. Projections by both the Central Bank and market analysts indicate that the trade balance is likely to surpass the US$ 60 billion surplus mark by the end of the year.
[Source: Government of Brazil/the Ministry of Industry, Foreign Trade and Services -/- Media Relations]
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