Brazilian Trade Surplus Widens as Exports Surge in June


In June, Brazil's trade surplus more than doubled to $2.39 billion from $0.8 billion in June of 2012. Exports rose 9.7 percent year-on-year, mainly driven by sales of manufactured goods, while imports increased 1.5 percent.

In June, Brazil exported $21.23 billion, an average of $1.06 billion per day, the highest average since the beginning of the year. The surge in shipments is mainly due to an increase in exports of manufactured products such as cars (+97 percent), ethanol (+77 percent) and the sale of an oil platform ($ 1.60 billion). Export of commodities increased 6.8 percent.

Sales to China (+25 percent), Argentina (+25 percent) and United States (+9.3 percent) registered the highest increases. Shipments to Africa (-14 percent), Middle East (-12 percent) and Euro Area (-9.4 percent) were responsible for the biggest downward pressures.

Brazilian imports increased slightly to $18.83 billion from $18.55 billion in June of 2012. Purchases of durable goods increased 19 percent while imports of fuel plunged 39 percent. Inflows from Euro Area and Mercosul increased (10 percent and 40 percent respectively) while purchases from the United States decreased 4 percent.

In the first half of the year, Brazil has accumulated a trade deficit of $3 billion, much worse than the $7 billion surplus registered during the same period in 2012.

Brazilian Trade Surplus Widens as Exports Surge in June


MDICE | Nuno Fontes | nuno@tradingeconomics.com
7/1/2013 8:16:57 PM