Brazil Trade Surplus Smallest in 6 Months



Brazil trade surplus narrowed to USD 3.78 billion in August of 2018 from USD 5.60 billion in the same month a year earlier and below market expectations of a USD 4.0 billion surplus. It was the smallest trade surplus since February, as imports recorded its highest value since October of 2014 and exports widened.

Imports jumped 35.3 percent year-on-year to USD 18.78 billion. It was the highest value since October of 2014, mainly boosted by higher purchases of consumption goods (+13.7 percent), intermediate (+16.2 percent) and capital goods (+158.2 percent). Imports edged up from China (+89.9 percent), the EU (16.4 percent) and the US (+21.6 percent).

Exports increased 15.8 percent year-on-year to USD 22.55 billion, mostly due to higher sales of soybeans (+43.7 percent), crude oil (+29.3 percent), iron ore (+23 percent), beef (+13.5 percent) and cellulose (+20.1 percent). On the other hand, declines were seen mainly in exports of chicken meat (-7.8 percent), corn (-37.6 percent) and sugar (-48.3 percent). Sales advanced 38.5 percent to China, 20.3 percent to the US and 16.6 percent to the EU.

Brazil Trade Surplus Smallest in 6 Months


MDIC | Stefanie Moya | stefanie.moya@tradingeconomics.com
9/3/2018 6:49:16 PM