Economy

Brazilian trade balance registers surplus of US$ 5.44 billion in July

Aug, 01, 2022 Posted by Gabriel Malheiros

Week 202231

The Brazilian trade balance closed the month of July with a surplus of US$ 5.44 billion, a drop of 22.7% compared to the same month of 2021. The figures, released by the Ministry of Economy on Monday, August 1st, also show that from January to July 2022, Brazil’s balance decreased to US$ 39.6 billion, 10.4% lower than in the same period last year.

The trade flow, which serves as a thermometer for economic activity, increased by 30.8% in July this year, compared to July 2021. The sum of Brazilian exports and imports was US$ 54.47 billion.

In exports, the sector that grew the most was agriculture, which registered an increase of 40.2%, totaling US$ 6.72 billion in exports. The manufacturing industry ranked second, up 33.2%. On the other hand, the extractive industry recorded a decrease of -5.6% in exports, totaling US$ 6.69 billion in July.

In the case of imports, Brazil registered a growth of 41.6%, reaching US$ 24.51 billion imported. According to the Ministry of Economy, the import change was influenced by increased purchases of products such as wheat and rye, crude fertilizers, petroleum fuel oils or bituminous minerals, and chemical fertilizers or fertilizers.

It is important to highlight that the Ukraine war strongly impacted these items’ production chains. Brazil’s import relations with Argentina, a major wheat producer, increased by 17.4%. As for the United States, Brazil’s partner in the oil sector, imports grew by 60.9%.

Source: CNN Brasil

To read the full original article, please go to: https://www.cnnbrasil.com.br/business/balanca-comercial-brasileira-registra-superavit-de-us-544-bilhoes-em-julho/

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