Brazil exports outweighed imports in July
Brazil exported $7.395 billion more than it imported in July. This was the second highest result in history, second only to July last year ($7.601 billion). The increase in imports at a higher pace than that of exports led to a slight shrinkage in July’s balance of trade.
Despite the 2.7 percent slide in absolute numbers, July’s trade balance reached a record under the daily average criterion. By dividing the surplus by the number of business days, the balance went up 1.7 percent in July 2020 against the same month last year. According to Brazil’s Economy Ministry, the difference stems from the fact that July this year had 22 business days, compared to 23 in 2020.
Last month, exports totaled $25.529 billion, up 37.5 percent from July 2020 by the daily average criterion. Imports added up to $18.133 billion, up 60.5 percent in the same comparison.
The surge in commodity prices sustained exports. In July, the volume of shipped goods dropped eight percent against July 2020. Prices, however, experienced a 43.1 percent increase on average, in the same comparison.
As for imports, purchases of fuels, manure, fertilizers, and auto parts and accessories showed the most significant growth. The increase in the dollar, coupled with the higher price of oil internationally pressured imports.
Year to date
July’s result brings the balance of trade to a surplus of $44.126 billion for the first seven months of the year, up 48.6 percent from the same period in 2020, also by the daily average.
In 2021, exports continued to grow more than imports. Sales overseas totaled $161.416 billion—up 35.3 percent by the daily average compared to the first seven months last year and a record value since the beginning of this time series. Purchases overseas added up to $117.289 billion—up 30.5 percent under the same criterion.
