Trade balance registers surplus of US$ 8.81 billion in June 2022

The rising price of several imported items, especially fertilizers and oil, caused the trade surplus to shrink in June. Last month, the country exported US$ 8.814 billion more than it imported, a drop of 15.4% in relation to June 2021. Despite the setback, this is the second best result for the month since the beginning of the historical series, in 1989, second only to June 2021.

Last month, Brazil sold US$ 32.675 billion abroad and bought US$ 23.861 billion. Both imports and exports hit a record in June, since the beginning of the historical series, in 1989. Exports rose 15.6% in relation to June of last year, according to the criterion of the daily average. Imports increased 33.7% in the same comparison.

The record of imports and exports, however, is due to the increase in international prices of goods. Last month, the volume of exported goods rose on average by only 0.1% compared to June last year, while prices rose 14.6%, favored by the appreciation of commodities, which are primary goods with international quotations.

In imports, the quantity purchased fell by 1.8%, but average prices rose by 34.6%. The rise in prices was mainly driven by manures, fertilizers, oil, coal and wheat, items that became more expensive after the start of the war between Russia and Ukraine.

Forecasts

The rise in imports made the government revise its trade surplus projection downwards. For 2022, the government forecasts a positive balance of US$ 81.5 billion, against a previous projection of US$ 111.6 billion. Estimates are updated every three months.