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.
Due to the COVID-19 pandemic, Brazil started exporting less as global consumption sank. Conversely, the country also began to buy less from overseas due to an increase of nearly 30 percent in the dollar last year.
In the seven months of the year, current transactions saw a deficit of $11.798 billion, against the negative $30.988 billion in the same period in 2019.
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