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Brazil's trade balance in deficit, GDP to shrink

Staff writer ▼ | April 22, 2015
Brazil's balance of trade showed a $240 million deficit in the third week of April. Exports fetched $3.745 billion and imports reached $3.985 billion.
Brazil factory
Latam   The Brazilian Ministry of Development, Industry and Foreign Trade
From April 13 to 19, exports averaged at $749 million a day, up 3.8% from the second week of April, according to the Brazilian Ministry of Development, Industry and Foreign Trade.

Top selling products included finished goods such as aircraft, aluminum oxides and hydroxides, fuel oils, auto parts and autos, and basic goods such as soybeans, coffee beans and soy bran. Semi-finished goods exports were down 4.8% driven by leathers and hides, ferroalloys and semi-finished gold, the ministry reported.

Month-to-date, exports fetched $8.798 billion and imports stand at $8.906 billion, with a $108 million deficit. Year-to-date, exports reached $51.573 billion and imports came out to $57.238 billion, resulting in a $5.665 billion deficit.

The financial market has revised down its estimate of how much Brazil's Gross Domestic Product (GDP) should shrink this year from 1.01% to 1.03%. The forecast is part of the Focus Bulletin, a poll of financial market analysts issued weekly by the Brazilian Central Bank. The forecast of a 2.5% decline in industrial production has stayed the same.

The current account deficit forecast remains at $77 billion, with a $4.3 billion trade surplus and $56 billion in foreign direct investment. The Focus Bulletin portrays the financial market's expectations regarding various indicators and is compiled on a weekly basis, from a poll of approximately 100 financial institutions.