Brazil Trade Surplus Widens in August


Brazil's trade surplus widened to USD 3.28 billion in August 2019 from USD 2.77 billion in the corresponding month of the previous year and slightly above market consensus of USD 3.20 billion. Exports declined 12.5 percent over a year earlier and imports dropped at a faster 17.1 percent.

Exports fell 12.5 percent year-on-year to USD 18.85 billion in August, mainly due to lower sales of primary goods (-1.9 percent) and industrial goods (-21.5 percent), of which manufactured products (-29 percent) namely passenger vehicles (-47.7 percent); cargo vehicles (-34.6 percent); engine parts and aviation turbines (-23.7 percent); planes (-23.6 percent) and parts (-21 percent). Meanwhile, sales of semi-manufactured products rose 9.4 percent, in particular  iron (471.5%), ferroalloys (64.3 percent), cast iron (34.9 percent), raw zinc (26.9 percent) and gold (21.1 percent). 

Among major trading partners, exports declined to China (-8.3 percent), the US (-1.5 percent), the EU (-1.5 percent), Argentina (-40.4 percent), and ASEAN countries (-1 percent).

Imports went down 17.1 percent to USD 15.57 billion, due to lower purchases of intermediate (-6.2 percent), capital (-37.8 percent) and consumption goods (-11 percent). In addition exports of fuels & lubricants decreased 36.9 percent. 

Among major trading partners, imports dropped from China (-41.1 percent) and Argentina (-30 percent), but advanced from the EU (1.5 percent) and the US (18.9 percent).

Considering the first seven months of 2019, the country recorded a USD 31.76 billion trade surplus.

Brazil Trade Surplus Widens in August


MDIC | Stefanie Moya | stefanie.moya@tradingeconomics.com
9/2/2019 6:30:38 PM