Brazilian Trade Balance Grows 16.8% Year-on-Year, Surplus Reaches $1.708 Billion as Exports Total $11 Billion and Imports $9.29 Billion So Far in January

Written by Bruno Teles

Published on 17/01/2023 at 14:26

Registrando um excedente de US$ 1,708 bilhões até o momento atual de janeiro e fazendo com que o resultado das exportações fossem para US$ 11 bilhões e importações US$ 9,29 bilhões, a balança comercial brasileira cresce economicamente em exportações 16,8% em comparação anual (Foto/divulgação)

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Recording a surplus of US$ 1.078 billion until the present moment of January, the Brazilian trade balance has export results reaching US$ 11 billion and imports at US$ 9.29 billion.

The main competitor in this trade was around US$ 20.29 billion. The Ministry of Development, Industry, Commerce and Services released the data about this surplus. The growth of exports in the second week of January 2023 was 16.8% compared to January 2022, causing imports to fall by 1.6%. Thus, the Brazilian trade balance recorded a surplus of US$ 1.71 billion, and its trade competitor increased by about 7.6%.

As of now in 2023, the performance of each sector was as follows: in Agriculture, growth was 17.1%, amounting to US$ 1.85 billion; in Extractive Industries, growth was 18.9%, reaching US$ 2.40 billion, and also 16.1% growth in the Manufacturing Industry, which increased to US$ 6.69 billion. All these combined results led to an increase in exports.

After the growth in sales of some products, the expansion of exports was significant, including: Rye and wheat, not ground (24.3%), Paddy or rough rice (167.2%) in the Agriculture sector; Some other raw minerals (318.7%), Copper ore and its concentrates (252.7%), Crude oil or minerals and crude (21.7%) in the Extractive Industry; Frozen, fresh or chilled poultry (46.9%), Molasses and sugars (67.8%), and Pig iron, sponge iron, spiegel, granules, steel, and iron alloys (59%) in the Manufacturing Industry.

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The performance of imports until the 2nd week of January 2023 by economic activity sector was as follows:

Agriculture saw growth of 24.0%, amounting to US$ 0.22 billion; with a decrease of -46.3% in Extractive Industries, reaching about US$ 0.63 billion, and finally, with growth of 5.8% in Manufacturing Industries, reaching US$ 8.42 billion. With this combination of results, the decline in imports was prompted.

The motivated decline in imports was influenced by the reduction in purchases of the following products: Unmilled corn, excluding sweet corn (-30.9%), Latex, rubber, gutta-percha, guaiule, chicle (-42.5%), Soybeans (-92.5%) in Agriculture; Nickel ore and its concentrates (-2.6%) Iron ore (-100%), Coal (-59.8%) in the Extractive Industry; Medicines and pharmaceutical products, excluding veterinary ones (-30.3%), Oils petroleum fuels (-15.2%), and Fertilizers, excluding raw ones (-10.9%) in the Manufacturing Industry.

Despite the decline in imports, the following products saw an increase: in Agriculture, Fresh or dried fruits and nuts (90.1%), Unshelled wheat and rye (19.8%), Unmilled barley (321.3%); in the Extractive Industry, Crude oil or raw minerals (79%), Raw fertilizers (141.5%), Copper ores and their concentrates (370.1%); Motor vehicles for the transport of goods (132.5%), Inorganic chemical elements, halogen salts, and oxides (73.2%), Passenger motor vehicles (88%) in the Manufacturing Industry.

Brazilian Trade Balance Grows 16.8% Year-on-Year, Surplus Reaches $1.708 Billion as Exports Total $11 Billion and Imports $9.29 Billion So Far in January

Recording a surplus of US$ 1.078 billion until the present moment of January, the Brazilian trade balance has export results reaching US$ 11 billion and imports at US$ 9.29 billion.

The performance of imports until the 2nd week of January 2023 by economic activity sector was as follows:

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Brazilian Trade Balance Grows 16.8% Year-on-Year, Surplus Reaches $1.708 Billion as Exports Total $11 Billion and Imports $9.29 Billion So Far in January

Recording a surplus of US$ 1.078 billion until the present moment of January, the Brazilian trade balance has export results reaching US$ 11 billion and imports at US$ 9.29 billion.

The performance of imports until the 2nd week of January 2023 by economic activity sector was as follows:

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