Brazil trade balance sees record-breaking $62 billion surplus for Jan-Nov

In November, a month traditionally marked by lows in sales to other countries, the surplus in Brazil's balance of trade—the difference between exports and imports—declined. Last month, the country exported a total $3.54 billion more than it imported, according to data from the Ministry of Industry, Foreign Trade, and Services. The positive balance is lower than the $4.75 billion observed in November last year.

Despite the slide, the country's balance of trade achieved an unprecedented mark. From January to November, exports surpassed imports by $62 billion. This is the best result for the period since the beginning of this time series, in 1989. For the same span last year, the balance had reported a surplus of $43.26 billion.

The positive balance from January to November this year beats the surplus for the whole of last year—$47.7 billion, an all-time record until then. According to the ministry, the balance is expected to close out 2017 with a positive balance of $65 billion to $70 billion.

Exports and imports

In November, Brazil exported a total $16.68 billion, up 2.9% from the same month last year, based on the daily average criterion. The increase was chiefly driven by the hike in commodity prices in the external market. The recovery in the economy, however, quickened the pace of the increase in imports. Last month, the country bought $13.14 billion from overseas—up 14.7% in the same comparison, also according to the daily average criterion.

From January to November, the country exported $200.15 billion, a surge of 18.2% against the same time span last year, in the same criterion. Imports, in turn, added up to $138.14 billion, a growth of 9.6% from the same period in 2016, also observing the daily average criterion.

Translated by Fabrício Ferreira