Trade balance hits US$ 4.2 billion surplus in July

The Brazilian trade balance maintained it’s upwards trend in July with a strong US$ 4.227 billion surplus in the period, the second best result for the month since the beginning of the time series in 1989. The data was released by the Ministry of Industry, Foreign Trade and Services (MDIC). 

From January to July, the trade balance (i.e. the difference between exports and imports) reached an accumulated US$ 34.160 billion surplus. Analyst projections point to Brazil reaching a trade surplus of US$ 58.06 billion in 2018.

Highlights

According to the numbers released by the MDIC, the surplus is the result of US$ 22.8 billion in exports and US$ 18.6 billion in imports.

Among the three main product categories (basic, semi-manufactured and manufactured goods), the first saw the highest surplus in the period, with an increase in exports of animal casings, crude oil, copper ore, soybean meal, soybeans, iron ore, beef and poultry.

The top buyers of the Brazilian market were located in Asia (strongly driven by Chinese demand), followed by Europe (especially the EU), South America (pulled by Mercosur countries) and North America (chiefly the United States).