Economy

Brazil announces USD 10.59 billion surplus in June

Jul, 03, 2023 Posted by Gabriel Malheiros

Week 202326

The Ministry of Development, Industry, Commerce, and Services announced that the trade balance in June accumulated a surplus of US$ 10.59 billion.

When exports exceed imports, the result is a surplus, whereas a deficit is reported when the opposite occurs.

In June, exports totaled US$ 30.1 billion, while imports amounted to US$ 19.5 billion.

Brazil’s main trading partners last month were:

  • Argentina: a surplus of US$ 1.04 billion
  • USA: a surplus of US$ 0.20 billion
  • China, Hong Kong, and Macau: a surplus of US$ 4.86 billion
  • European Union: a surplus of US$ 0.45 billion

H1 in a nutshell

According to the Ministry of Development, Industry, Commerce, and Services, the trade balance in the first six months of this year showed a positive balance of US$ 45.5 billion, compared to a surplus of US$ 34.3 billion in the same period of 2022. This represents a 32.9% increase in the daily average.

Compared to the first half of 2022, exports to Asia, South America, and North America saw an increase.

Exports reached US$ 1.34 billion between January and June, the highest level in the track record that began in 2018. In the same period of 2022, the value was US$ 1.32 billion.

Agricultural products experienced a 7% growth in exports during the semester. The performance was driven mainly by soybeans, corn, live animals, rice, and seeds such as sunflower, sesame, canola, and cotton.

There was a 7.1% decrease in imports compared to the previous year. Brazil’s imports amounted to US$ 972.89 million, down from approximately US$ 1.05 billion in 2022.

Source: G1

To read the original news story, visit: https://g1.globo.com/economia/noticia/2023/07/03/balanca-comercial-tem-superavit-de-us-106-bilhoes-em-junho.ghtml

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