Brazil Trade Surplus Widens in November


Brazil trade surplus increased to USD 4.06 billion in November 2018 from USD 3.54 billion in the same month of the previous year, slightly below market expectations of a USD 4.3 billion surplus. Exports grew 25.4 percent mostly due to shipments of soybeans and crude oil. Meantime, imports advanced 28.3 percent boosted by purchases of intermediate goods and capital goods.

Exports surged 25.4 percent year-on-year to USD 20.9 billion in November 2018, primarily due to sales of soybeans (145.8 percent), crude oil (103.6 percent), iron ore (22.4 percent), corn (32.5 percent), beef (6.0 percent), coffee beans (16.5 percent), cotton (36.6 percent) and soybean meal (22.2 percent). Meanwhile, shipments decreased for chicken meat (-5.1 percent). Exports of manufactured products surged 25 percent, boosted by fuel oils (793.5 percent), gasoline (3761 percent) and engine parts & turbines for aircrafts (142.3 percent). Among major trading partners, sales advanced 31 percent to China; 20.1 percent to the EU; and 6.9 percent to the US. 

Imports advanced 28.3 percent year-on-year to USD 16.9 billion, mainly driven by higher purchases of intermediate goods (15.7 percent), capital goods (170.2 percent) and fuels and lubricants (12.6 percent). Conversely, those of consumption goods declined (-7.1 percent). Imports came mainly from China (purchases up 8.6 percent), the EU (3.0 percent), the US (29.2 percent) and Argentina (12.0 percent).

Brazil Trade Surplus Widens in November


MDIC | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
12/3/2018 6:20:42 PM