The drop in the international price of iron ore and the increase in the price of fertilizers and oil reduced the surplus last month, as per the Ministry of the Economy.
Last month, Brazil exported $ 29.955 billion and imported $ 24.511 billion dollars. Both imports and exports hit a record in July, in the time series started in 1989.
The result is up 21.1 percent from 2020’s $50.39 billion trade surplus. Compared to the previous record, observed in 2017, the increase reached 8.9 percent.
According to Fernando Rocha, the Central Bank’s head of Statistics, the difference in the performance of current transactions, in the yearly comparison, is due to the increase in the commercial surplus.
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.
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