Brazil: Trade balance has surplus of US$8.8 billion in June

RIO DE JANEIRO, BRAZIL – The Brazilian trade balance registered a surplus of US$8.8 billion in June, below the estimates of the financial market, which expected a balance higher than US$10 billion.

The result is formed by exports minus imports in foreign trade. The Ministry of Economy released the data on Friday, July 1, 2022.

The June surplus is 15.4% lower than the one registered in the same month of 2021, totaling US$10.4 billion. According to the government, exports totaled US$32.7 billion (+15.6%) and imports, US$23.9 billion (+33.7%).

The trade balance of June 2022 was the 2nd highest for the month in the historical series, which started in 1989. It is second only to June 2021.

The Ministry of Economy reduced the projection of trade surplus in 2022 from US$111.6 billion to US$81.5 billion.

According to the Ministry of Economy, manufacturing exports increased by 38.5% in June against the same month in 2021.

The agriculture and livestock sector advanced 30.4% in the period. The extractive industry, on the other hand, fell 24.3%.

Asia was the main destination of exports (US$14.26 billion), with China, Hong Kong, and Macau leading the way with US$9.50 billion. Brazil exported US$4.03 billion in products to the United States.

The trade flow, the sum between exports and imports, reached US$56.5 billion, an increase of 22.6% against June 2021.

In the first semester, the trade balance had a surplus of US$34.2 billion, a drop of 8.2% against the same period last year. Exports rose 19.5%. Imports advanced 29.8%.

With information from Poder360