Brazil Trade Surplus Narrows in March


Brazil’s trade surplus narrowed to USD 4.99 billion in March 2019 from USD 6.28 billion in the same month a year earlier and missing market expectations of a USD 5.548 billion. Imports rose 5.1 percent year-on-year while exports fell 1.0 percent. Imports tend to be volatile during Carnival season.

Imports increased 5.1 percent from a year ago to USD 13.13 billion in March, mainly drive by purchases of capital (13 percent); intermediate (5.8 percent) and consumption goods (1.6 percent). On the other hand, purchases of fuels and lubricants decreased 0.5 percent. Shipments rose to China (3.0 percent) and the US (0.7 percent) while decreased to the EU (-1.3 percent).

Exports dropped 1.0 percent to USD 18.12 billion. Sales declined for manufactured products (-68.2 percent), namely cargo vehicles (-68.2 percent), fuels (-49.6 percent), and autos (-41.4 percent); semi-manufactured (-34.6 percent), of which sugar (-34.6 percent), and celullose (-12.0 percent). Meanwhile, sales of basic products went up 123.6 percent, mostly corn (86.7 percent), soybeans (30.2 percent), coffee beans (29.1 percent) and crude oil (14.4 percent). Exports declined to Argentina (-48.4 percent) and the EU (-2.9 percent), but advanced 6.1 percent to China and 9.6 percent to the US.

 Brazil Trade Surplus Narrows in March


MDIC | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/1/2019 6:47:36 PM