Higher imports ramp down Brazil trade balance in March

An increase in imports, stemming from the economic recovery, reduced Brazil’s balance of trade in March. The country is reported to have sold $6.281 billion more than it bought last month—down 12% from the $7.136 billion in March, 2017. The figures were released by the Ministry of Industry, Foreign Trade, and Services.

The value brings the surplus of the country’s balance of trade—the difference between exports and imports—to an accumulated $13.952 billion for the first three months of 2018—3.1% lower than the same period last year. Despite the decline, the indicator represents the second best outcome in history, for both March and the first quarter of a year.

Last month, exports added up to $20 billion, up 9.6% from March, 2017, under the daily average criterion. Most noteworthy were the sales of semi-manufactured goods, which grew 16.8% from the same month last year, thanks to the sales of crude zinc (up 95.5%), cellulose (92.1%), and iron alloys (48.3%).

Translated by Fabrício Ferreira