Brazil Trade Balance Surplus Drops 6%

Embraer jet, Brazilian export product The Brazilian balance of trade has recorded a US$ 370 million surplus in the first three business days of August. The surplus is the result of exports worth US$ 1.955 billion, and imports of US$ 1.585 billion.

According to a report disclosed last Monday, August 6. by the Brazilian Ministry of Development, Industry and Foreign Trade, the country made average daily purchases of US$ 528.3 million, the highest value so far this year.

Exports also performed well, at a daily average of US$ 651.7 million, the second best result of the year, second only to the month of June, when foreign sales reached US$ 655.9 million per day.

In a comparison between the first three days of August this year and last year, imports grew much more than exports. Whereas foreign purchases increased by 33.3%, foreign sales grew by 9.6%. According to the report of the Ministry of Development, there has been an increase especially in imports of copper and its alloys, at 71.5%, fuels and lubricants, at 63.4%, and autos and auto parts, at 47.8%.

With regard to exports, according to the release, "the variation was chiefly due to the rise in shipments of semi-manufactured goods (49.1%), with highlights for copper cathodes, cast iron, crude aluminum, and cellulose."

Exports of manufactured goods grew by 13.9%, especially in shipments of orange juice, aluminum oxides and dioxides, aircraft, pneumatics, electric engines and generators, and passenger automobiles. Sales of basic goods decreased by 12% during the period.

This year, the country has exported US$ 89.289 billion and imported US$ 64.934 billion. The trade balance surplus, until the first week of August, stands at US$ 24.355 billion, a value 5.8% lower than recorded in the same period of 2006.



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