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Trade balance registers a US $ 6.16 billion surplus in September

Posted by Marina
The fall in imports at a greater rate than the reduction in exports made the trade balance record a record surplus in September, informs “Agência Brasil”. Last month, the country exported US $ 6.164 billion more than it imported, the best result for the month since the beginning of the historical series, in 1989.

Both exports and imports fell last month. In September, the country sold US $ 18.459 billion abroad, down 9.1% according to the daily average criterion in relation to the same month last year. Imports, however, fell further, totaling US $ 12.296 billion, a reduction of 25.5% also by the daily average.

With the September result, the trade balance accumulates a surplus of US $ 42.445 billion in the first nine months of the year. This is the second best result of the historical series for the period, losing to January to September 2017 (surplus of US $ 53.258 billion).

In the accumulated for 2020, exports totaled US $ 156.780 billion, a decrease of 7% in comparison with the same period of 2019 by the daily average. Imports totaled US $ 114.336 billion, a decrease of 14% by the same criterion.

Most of the increase in the balance in September is explained by the fall in imports from the manufacturing industry, which decreased US $ 181.35 million by the daily average in relation to the same month last year, and from the extractive industry, whose purchases from abroad shrank US $ 18.32 million. On the export side, sales by the manufacturing industry fell by $ 108.01 million. In contrast, sales from the extractive industry increased by US $ 19.65 million, and sales from agriculture and livestock increased by US $ 5.38 million in the same comparison.

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Among the products that drove the growth of agricultural exports in September, the highlights were non-roasted coffee, whose value sold increased by US $ 2.453 million in the daily average criterion in relation to the same month last year, and live animals, with high US $ 1.3 million in the same comparison.

In the extractive industry, iron ore exports rose, with an increase of US $ 48.4 million in relation to September last year by the daily average, motivated both by the increase in demand and by the increase in the international price.

Exports of crude petroleum oils, however, continue to fall and ended last month with a fall of US $ 29.98 million. In this case, the drop is due to both the drop in the international price and the volume of demand due to the covid-19 pandemic.

In the manufacturing industry, the biggest declines were recorded in oil platforms (-US $ 71.27 million for the daily average), petroleum fuel oils (-US $ 11.54 million) and tobacco (-US $ 8.62 million ).

In addition to the crisis in Argentina, the main destination for Brazilian industrial sales, the fictitious export of an oil platform that occurred in September last year, which was not repeated this year, impacted the result. In this type of operation, classified as within international trade rules, an oil company registers a platform at a subsidiary abroad, without the equipment leaving the country.

Annual target

After the trade balance ended 2019 at $ 48.035 billion, the second highest positive result in history, the market estimates lower trade volume in 2020, due to the new coronavirus pandemic. However, the retraction of imports at a faster pace than that of exports raised the balance projections.

According to the Focus bulletin, a weekly survey of financial institutions released by the Central Bank, market analysts expect a surplus of US $ 55.15 billion for this year. The Ministry of Economy updated the positive balance estimate to $ 55 billion, slightly down from the $ 55.4 billion estimate released in July.


Source: DATAGRO

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