Driven by the slump in the price of soybeans and corn and the surge in imports of electric vehicles, the surplus in the country’s balance of trade was down 33.4% in June from the same month last year.
Despite falling prices for soybeans, iron ore, and oil, the surplus was up 13.7% from April last year and is the second best for the month, surpassed only by the nearly $10 bi from April 2021.
Benefiting from a decline in fuel imports and a record grain harvest, the balance of trade is the best for September and is up 51.2% from the same month last year, according to the Ministry of Development, Industry, Trade, and Services.
The result is the highest for June and up 19.1% from the same month last year. Over the first half of the year, Brazil’s balance of trade closed out at a positive BRL 45.514 bi.
The country exported $11.378 bi more than it imported in May—more than twice as much as the positive balance in May last year ($4.958 bi).
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