Brazil’s trade surplus shrank to USD 5.600 billion in December 2019 from USD 6.428 billion in the same month of the previous year but above market expectations of a USD 4.352 billion surplus. Exports slumped 6.2% from a year earlier to USD 18.16 billion, dragged down by lower shipments of manufactured goods (-13.6%), mostly fuels (-14.6 percent); aluminum oxides/hydroxides (-20.6%); motor engines & parts (-6.9%) and auto parts (-22.7%). Also, sales decreased for semi-manufactured products (-21.2%), namely cellulose (-43.1%); raw sugar (-10.2%) and iron & steel (-27.1%). Those of primary goods, in turn, rose 3.3%, driven by crude oil (48.2%); beef (55.5%); corn (20.2%) and chicken meat (11.7%). In contrast, declines were seen in exports of iron ore (-18.8%) and soybeans (-20%). Imports went down 2.8% to USD 12.56 billion, as purchases fell for capital goods (-11.8%); consumption goods (-3.3%) and fuels & lubricants (-6.2%). Conversely, acquisitions of intermediate goods grew (1.6%). Balance of Trade in Brazil averaged 916.62 USD Million from 1959 until 2019, reaching an all time high of 7660.98 USD Million in May of 2017 and a record low of -4068.90 USD Million in January of 2014. source: Ministério do Desenvolvimento, Indústria e Comércio Exterior

Balance of Trade in Brazil is expected to be 4500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Brazil to stand at 3000.00 in 12 months time. In the long-term, the Brazil Balance of Trade is projected to trend around 3800.00 USD Million in 2020, according to our econometric models.

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Brazil Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
5599.40 3427.32 7660.98 -4068.90 1959 - 2019 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-01 06:00 PM Sep $2.25B $3.18B $3.2B $ 4B
2019-11-01 06:00 PM Oct $1.21B $2.25B $1.25B
2019-12-02 06:00 PM Nov $3.4B $1.21B $3.365B $2.5B
2020-01-02 06:00 PM Dec $5.6B $3.43B $4.352B $ 3B
2020-02-03 06:00 PM Jan $5.6B $2.7B

News Stream
Brazil Trade Surplus Shrinks in November
Brazil’s trade surplus narrowed to USD 3.428 billion in November 2019 from USD 4.076 billion in the same month last year but above market expectations of USD 3.365 billion. Both, imports and exports dropped 16 percent from a year earlier. This comes after the US President Donald Trump announced today that he will reimpose steel and aluminium tariffs on the country.

Brazil Trade Surplus Narrows as Exports Fall Sharply
Brazil's trade surplus narrowed to USD 1.21 billion in October 2019 from USD 5.79 billion in the same month last year and slightly below market expectations of USD 1.25 billion. Exports slumped 16.7 percent to USD 18.23 billion while imports rose 5.7 percent to USD 17.03 billion.

Brazil Trade Surplus Narrows Sharply in September
Brazil's trade surplus narrowed to USD 2.25 billion in September 2019 from USD 5.07 billion in the corresponding month of the previous year and below market expectations of a USD 3.2 billion surplus. Exports dropped 11.6 percent over a year earlier while imports rose 5.7 percent.

Brazil Trade Surplus Widens in August
Brazil's trade surplus widened to USD 3.28 billion in August 2019 from USD 2.77 billion in the corresponding month of the previous year and slightly above market consensus of USD 3.20 billion. Exports declined 12.5 percent over a year earlier and imports dropped at a faster 17.1 percent.

Brazil Posts Smallest Trade Surplus for July since 2014
Brazil's trade surplus decreased to USD 2.29 billion in July 2019 from USD 3.87 billion in the same month of the previous year and below market expectations of a USD 3.8 billion surplus. It is the smallest trade surplus recorded for a July month since 2014, as exports slipped 11 percent year-on-year and imports fell at a softer 4.8 percent.

Brazil Trade Gap Narrows in June
Brazil's trade surplus narrowed to USD 5.02 billion in June 2019 from USD 5.88 billion in the same month of the previous year and below market consensus of a USD 5.4 billion surplus. Exports fell 10.3 percent year-on-year and imports dropped at a softer 9.1 percent.

Brazil Balance of Trade
From 2001 to 2012 and 2015 to 2017 Brazil has reported trade surpluses, primarily due to high export of mining and agricultural products. In 2018, the biggest trade surpluses were reported with China, the Netherlands, Argentina, Chile, Iran and Spain while the largest trade deficits were recorded with Germany, South Korea, Russia, Switzerland Algeria and France.

Brazil Trade Last Previous Highest Lowest Unit
Balance of Trade 5599.40 3427.32 7660.98 -4068.90 USD Million [+]
Current Account -2164.00 -7900.00 3006.80 -13344.90 USD Million [+]
Current Account to GDP -0.77 -0.35 1.80 -8.20 percent [+]
Imports 12555.49 14168.71 23049.60 67.00 USD Million [+]
Exports 18154.88 17596.03 26148.24 75.06 USD Million [+]
External Debt 668221.21 674076.28 714260.45 64259.50 USD Million [+]
Terms of Trade 107.30 109.68 132.65 64.67 points [+]
Capital Flows -2248.70 -6376.20 2919.60 -13679.20 USD Million [+]
Foreign Direct Investment 6985.41 6814.52 16274.73 -103.33 USD Million [+]
Remittances 262.10 257.30 386.00 70.80 USD Million [+]
Gold Reserves 67.36 67.36 119.01 31.99 Tonnes [+]
Crude Oil Production 2927.00 2989.00 2989.00 330.00 BBL/D/1K [+]
Terrorism Index 2.53 1.39 2.69 0.00 [+]
Weapons Sales 111.00 47.00 267.00 1.00 USD Million [+]
Tourist Arrivals 6621.00 6589.00 6621.00 1991.00 Thousand [+]