Trade surplus surpasses BRL 10.5 bi in June

Brazil’s balance of trade—the difference between exports and imports—closed out June with a surplus of BRL 10.592 billion, the Ministry of Development, Industry, Trade, and Services reported Monday (Jul. 3). The result is the highest for June and up 19.1 percent from the same month last year under the daily average criterion.

The result brings the balance of trade over the first half of the year to a positive BRL 45.514 billion—a record for the period since the current time series began, back in 1989.

As for the monthly value, the all-time high came despite both exports and imports on the wane in June. Last month, Brazil sold BRL 30.094 billion abroad, down 8.1 percent from the same month in 2022, also per the daily average criterion. Imports totaled BRL 19.502 billion, down 18.2 percent.

On the exports’ side, the decline in commodities was the main driver behind the shrinkage. After reaching a record high in the first half of last year as a result of the start of the war between Russia and Ukraine, commodities took a downward trend in recent months, which pulled international sales down. The record soybean harvest helped mitigate this decline.

Last month, the volume of exported goods was up by only 6.7 percent, while prices dropped by an average of 15.2 percent against the same month last year. In imports, the amount purchased sank 3.3 percent, but average prices fell by 17.7 percent.