Brazil Trade Surplus Narrows Slightly in April
Brazil posted a USD 491 million trade surplus in April of 2015, down 2.94 percent from last year’s USD 505.9 million surplus, but better than market forecasts.
5/5/2015 2:58:39 PM
Although it is the second consecutive monthly surplus, exports shrank for the ninth straight month by 23.16 percent year-on-year to USD 15.15 billion.
In April, the rain in the south of the country and the truckers’ strike dragged soybean sales down (-38.7 percent). Exports of commodities shrank 28.9 percent, driven by iron ore (-43.7 percent), pork (-21.2 percent), poultry (-18.3 percent), beef (-17.9 percent), tobacco leaves (-8.5 percent) and coffee beans (-6.4 percent). In contrast, shipments of copper ore (27.4 percent) and crude oil (0.9 percent) increased.
Exports to China, the country’s top exports partner shrank 23.4 percent, those to the United States fell 19.2 percent and sales to Argentina contracted 21.1 percent.
Imports fell 23.7 percent to USD 14.66 billion.
Year-to-date, Brazil posted a USD 5.066 billion deficit.