Brazil Trade Surplus Widens to Nearly 3-Year High in May
Brazil posted a USD 2.76 billion trade surplus in May of 2015, from last year’s USD 0.71 billion surplus, beating market expectations. It was the highest value since August 2012, as exports fell at a slower pace than imports.
6/1/2015 11:56:21 PM
Exports shrank by 19.2 percent year-on-year to USD 16.77 billion from 20.75 billion. Commodities sales fell 24.6 percent, manufactured goods decreased by 13.0 percent and semi-manufactured goods declined 9.3 percent.
Exports to China, European Union and the United States shrank 18.1 percent; 27.1 percent; and 14.9 percent, respectively. Those to Argentina contracted 17.4 percent. In contrast, sales to Middle East and Africa grew 14.9 percent and 3.6 percent each.
Imports contracted at a faster 30.1 percent to USD 14.01 billion from USD 20.04 billion in May 2014. Imports of capital goods shrank 28.0 percent and consumer goods purchases fell 20.0 percent, as non-durable goods contracted 14.2 percent and durable goods went down by 25.2 percent. Fuels and lubricants decreased by 47.0 percent, driven by a 59.2 percent drop in oil products; raw materials and intermediate goods decreased by 28.9 percent.
Imports from China, European Union and the United States shrank 26.8 percent; 24.4 percent; and 25.6 percent, respectively. Those from Argentina contracted 30.6 percent. Purchases from Middle East fell 71.2 percent while those from Africa grew 29.5 percent.
So far this year, Brazil posted a USD 2.31 billion deficit.