Brazil Trade Surplus Falls in July

The trade surplus in Brazil narrowed to USD 4.23 billion in July of 2018 from USD 6.29 billion a a year earlier, lower than market expectations of a USD 5.71 billion surplus. Imports reached the highest value since November of 2014, mainly due to purchase of a platform for oil extraction from China. Exports were the highest since July of 2014, mainly boosted by sales of soybeans, oil and iron ore to China.
Joana Taborda | joana.taborda@tradingeconomics.com 8/1/2018 6:50:16 PM
Imports surged 49.5 percent year-on-year to USD 18.64 billion. It is the highest value since November of 2014, mainly due to a jump in purchases of intermediate goods (+28.1 percent) and capital goods (+312.7 percent). Purchases went up from China (+90.7 percent), the EU (28.9 percent) and the US (+19.9 percent).

Exports jumped 21.9 percent year-on-year to USD 20.2 billion, the highest since July of 2014, mainly boosted by shipments of soybeans (+60.7 percent), oil (+122 percent), iron ore (+54 percent), chicken meat (+19.6 percent) and beef (42.7 percent). Main falls were seen in exports of sugar (-43.1 percent) and corn (-42.7 percent). Sales jumped 73.1 percent to China, 30.2 percent to the EU and 5.7 percent to the US.

Brazil Trade Surplus Falls in July