Trade balance in Brazil hits record $6.9bn surplus in AprilStaff Writer | May 4, 2017
With Brazilian products gaining momentum abroad, the April trade balance has hit a record for the month.
LatAm Exports surpassed imports by $6.969 billion
The figures by the Ministry of Industry, Foreign Trade and Services, show strong daily average increases for both exports and imports.
Daily average exports in March were 27.8% higher than in the same period of last year, influenced by increases of 29.2% for commodities, 27.5% for semi- manufactured goods and 25.7% for manufactured products.
Commodity exports were mostly influenced by strong sales of iron ore (+87.6%), crude oil (+58.6%), pork (+34.4%) and soy beans (+7%).
Semi-manufactured goods also saw strong highs. The largest increase was in sales of soybean oil (173.9%), followed by shipments of iron and steel (55.5%), cast iron (46.1%) and raw sugar (44.4%).
Imports, on the other hand, grew by 13.3% compared to the same month of last year, driven by increased purchases of fuels and lubricants (28.5%), intermediate goods (16.5%) and consumer goods (6.3%). ■