Brazil’s trade surplus stands at $2.2 bi

Brazil posted a trade surplus of $2.246 billion in September—the lowest monthly figure since 2014, as per official figures. The result last month was down 59.9 percent from the same span in 2018 ($5 billion), in the daily average criterion.

In September, exports reached $18.740 billion, down 11.6 percent from September 2018 and up 4.7 percent from August, also according to the daily average.

Imports added up to $16.494 billion, up 5.7 percent from September 2018 and 11 percent from August this year.

From January to September 2019, exports added up to $167.379 billion, down six percent, considering the daily average in the comparison with the same period last year. Imports accounted for $133.589 billion, down 1.8 percent in the daily average criterion, against the same period in 2018.

This brings the balance of trade to an accumulated surplus of $33.790 billion, down 19.5 percent from January–September 2019.

The drop in foreign trade stems from lower economic activity worldwide, said Subsecretary for Intelligence and Statistics of Foreign Trade of the Ministry of the Economy Herlon Brandão. “The main reason international organisms mention in connection with the retraction in the global economy is the [US–China] trade war,” he said.

Estimates

With lower estimates, the Brazilian government expects an also lower trade surplus. In July, the government had forecast a commercial surplus of $56.7 billion, and now the projection was cut to $41.8 billion, down 28 percent from 2018. The estimate is below that of the financial market, which foresees a positive $51.7 billion.