Brazil's Trade Balance Reported Surplus of $2.102 Billion in January So Far, Resulting from Exports of Approximately $16.3 Billion and Imports of $14.2 Billion

Brazil’s Trade Balance Reported Surplus of $2.102 Billion in January So Far, Resulting from Exports of Approximately $16.3 Billion and Imports of $14.2 Billion

Written by Bruno Teles

Published on 24/01/2023 at 14:19

A balança comercial brasileira fez um registro de superávit de US$2,102 bilhões em janeiro até o momento, resultado de exportações de cerca de US$16,3 bilhões e importações de US$14,2 bilhões (Foto/divulgação)

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So far in January, the Brazilian trade balance recorded a surplus of about US$ 2.102 billion, a result of exports of US$ 16.3 billion and imports of about US$ 14.2 billion. Its trade flow was around US$ 30.5 billion. These data were released by the Ministry of Development, Industry, Trade and Services.

Up to this third week of January 2023, compared to January of the previous year, exports grew by 15.4%. Meanwhile, imports grew by 0.2%. As a result, the trade balance recorded a surplus of US$ 2.10 billion, and trade flow grew by 7.8%, reaching US$ 30.50 billion.

As of this current week in January 2023, the performance of the sectors was as follows: a growth of 5.5% in Agriculture, totaling US$ 2.50 billion; a growth of 34.1% in Extractive Industry, reaching US$ 4.07 billion; and finally, a growth of 11.6% in Transformation Industry, which reached US$ 9.66 billion. This combination of results led to an increase in total exports.

The expansion of exports was driven mainly by the growth in sales of the following products: Rough rice, paddy or unprocessed (380.7%), Unmilled corn, except sweet corn (154.9%), and oilseeds such as sunflower, sesame, canola, cotton, and others (1,063.3%) in Agriculture; Other crude minerals (189.9%), Nickel ore and its concentrates (135.1%), and Crude oils of petroleum and bituminous minerals (58.9%) in Extractive Industry; Poultry meat and its edible offal, fresh, chilled, or frozen (38.2%), Sugars and molasses (45.8%), and Petroleum or bituminous mineral fuel oils (excluding crude oils) (21.8%) in Transformation Industry.

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By the beginning of January 2023, the performance of imports by economic activity sectors was as follows: a growth of 31.2% in Agriculture, totaling US$ 0.34 billion; a decrease of about -25.0% in Extractive Industries, which reached US$ 1.31 billion; and finally, a growth of around 4.7% in Transformation Industry, which reached US$ 12.49 billion. The combinations of these results fueled optimism for the increase in imports.

Although the result of imports showed growth, the following products saw a decrease: Unmilled corn, except sweet corn (-18.2%), Soybean (-95%), and Latex, natural rubber, balata, gutta-percha, guaiúle, chicle, and natural gums (-41.6%) in Agriculture; Iron ore and its concentrates (-99.9%), Coal, even in powder but not agglomerated (-36.8%), and Natural gas, liquefied or not (-85.3%) in Extractive Industry; Petroleum or bituminous mining fuel oils (excluding crude oil) (-15.5%), Parts and accessories (except cases, covers, and similar) for data processing machines or office machines (-58%), and telecommunications equipment, including parts and accessories (-14.4%) in Transformation Industry.

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