Trade balance has lower surplus for August in three years

The growth of imports due to the recovery of the economy has reduced the balance of trade. According to figures released recently by the Ministry of Industry, Foreign Trade and Services (MDIC), the country exported US $ 3.775 billion more than it imported last month, down 32.5% from a positive result of US $ 5.592 billion in August 2017. This is the lowest surplus for the month since 2015 ($ 2.685 billion). With the result of August, the trade balance - difference between exports and imports - accumulates a surplus of US $ 37.811 billion in the first eight months of 2018. The value is 21.8% lower than the same period of last year by the criterion of the daily average . The decline in the balance of the balance is due to the higher growth of imports in relation to exports. Last month, foreign sales totaled US $ 22.552 billion, up 15.8% over August 2017 by the daily average criterion. According to the MDIC, this was the second highest value exported for the month, only losing to August 2011. Imports, however, totaled US $ 18.777 billion, up 35.3% over August last year, daily average.
MDC Foreign Trade Secretary Abrão Neto said that the country had a record soybean exports in both value and quantity in August. Other items, such as crude oil, iron ore, aircraft and oil platform, were also prominent in Brazilian foreign sales. Since December 2016, exports have increased in relation to the same month of the previous year. Sales of manufactured goods boosted exports, up 35.1% over August 2017, highlighting an oil platform exported to Panama, turbines and heaters and dryers. Exports of basic products rose 16.4%, with soybean meal (+ 46%), soybeans (+ 43.7%) and copper ore (+ 43.1%) standing out. Sales of semimanufactured products, however, fell by 24.2%, driven by a decline in exports of iron and steel semimanufactured goods (-85.2%), raw sugar (-48.3%) and hides and skins (-31, 2%).
In relation to imports, which grew more than double the exports in August, purchases of capital goods (machinery and equipment used in production) increased 158.2% over August last year. Imports of fuels and lubricants rose 55.4%. Purchases of intermediate goods grew 16.2%; and imports of consumer goods, 13.7%. Last year, the trade balance closed the year with a record surplus of US $ 67 billion, benefiting from the supersafra and the appreciation of commodities (primary goods with international quotation). For this year, the Ministry of Industry, Foreign Trade and Services maintained a projected surplus of around US $ 50 billion, due to the stabilization of the price of primary goods and the recovery of the economy, which boosts imports.

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