RIO DE JANEIRO, BRAZIL – Brazilian exports to the United States grew by 9.5% in August of this year compared to the same period in 2018. Imports of products from that country increased by 27.9%. At the same time, trade with other important partners (China, Argentina, and the European Union) fell.
The data were released yesterday, September 16th, by the Getúlio Vargas Foundation (FGV) and show that Brazilian exports to Argentina retreated by 38.9 percent in the month. Sales to China fell by 17.1 percent, while the volume exported to the European Union fell by seven percent.
Considering all countries, the country’s trade flow, that is, the sum of exports and imports, fell by 15 percent between August 2018 and August 2019. The value of exports from Brazil, i.e. export volume times the price charged for these products and services, fell by 13 percent. The value of imports fell by 17 percent.
According to a note by FGV, this can be explained by the “slowdown in world trade and the low level of Brazilian activity”.
In terms of volume, exports and imports had the same drop (-13 percent), but the prices of imported goods fell more than the prices of exported goods. In August, all sectors had a drop in the volume exported, especially the transformation industry.
Source: Agência Brasil