On the export front, the fall in international prices of soybeans, oil, and meat was the primary factor contributing to the decrease in Brazilian exports.
Despite the devaluation of commodities, Brazil forecasts a record positive balance of $93 bi for 2023, surpassing the previous projection of $84.7 bi made in July.
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.
Exports of goods reached $30.247 billion, reflecting an 8.7% decline. Imports amounted to $21.645 billion, marking a 16.1% decrease from the previous year.
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.
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