Brazil exports up 10% in May

Brazilian exports increased ten percent in May 2019 from May last year. According to figures from the Getulio Vargas Foundation (FGV), chief among importing countries was the US, which saw a 72% surge in the month from the same period last year.

On the other hand, a decline was reported for exports to Argentina and China. The trade with the South American neighbor has been on the wane since the beginning of the year as a result of the Argentine crisis. Sales to China, in turn, have been slowing down since March.

The increase in exports to the US may have come as a result of high crude oil sales (492%) and semi-manufactured iron and steel goods (322%) to the country. 

Brazilian imports from all countries went up 12.9 percent in May. Brazil’s balance of trade stood at $6.3 billion a month. Year-to-date, exports slipped 0.9 percent, whereas imports increased 1.8 percent—a balance of $22.1 billion.