Exports hit 30-year-high in January

published: Feb 06, 2019 03:35 PM, last modified: Feb 06, 2019 03:35 PM

Data from the Economy Ministry shows foreign sales hit US$ 18.5 billion last month

Brazilian exports reached US$ 18.5 billion in January, the highest amount for the month in the last 30 years and a 9.1% increase year-over-year. The numbers were released last week by the Ministry of the Economy.

According to the portfolio, the increase in exports was driven by higher sales to the foreign market of oilrigs, aviation equipment, airplanes, fuel oils, cast iron, pulp, copper ore, bulk maize, soybean meal, iron ore and others.

The top increases in Brazilian exports were in sales to Central America and the Caribbean (+296.9%), Oceania (+81%), Asia (+25.5%), Middle East (+11.2%) and United States (+2.1%).

Balance for the month

With imports in the order of US$ 16.3 million, Brazil finished January with a US$ 2.1 billion surplus in the trade balance (difference between exports and imports). In 2018, the difference between exports and imports led to a US$ 58.6 billion trade surplus.