Trade balance: imports outnumber exports in January

The Ministry of Economy reported this Tuesday, February 1st, that the trade balance registered a deficit of US$ 176 million in January this year.

In total, according to the government:

• imports totaled US$ 19.849 billion;
• exports totaled US$ 19.673 billion.

According to government data, January has recorded a negative balance for the fourth year in a row.

Despite the deficit, the result represents an improvement in comparison with January 2021, when the trade deficit totaled US$ 219.93 million.

The result for 2022 is also the best January trade balance since 2018 when the government recorded a surplus of US$ 1.655 billion.

Exports and imports

According to the Ministry of Economy, the daily average of exports grew by 25.3% in January compared to the same period last year. On the other hand, purchases from other countries advanced 24.6%.

The agricultural and livestock sales increased by 97.5% in exports, while the extractive industry shrank 18.76%, and the manufacturing industry grew 36.1%.

The main export destinations are:

• United States (+51.8%, to US$ 2.27 billion);
• European Union (+46%, to US$ 2.82 billion);
• China, Hong Kong and Macau (-3.8%, to US$ 4.33 billion);
• Argentina (+18,3%, para US$ 940 milhões).

On the other hand, the agribusiness industry imported less (-15.7%), while the extractive industry increased its imports by 325.8% and acquisitions from the manufacturing industry grew by  14.9% in January.

2021 to date and forecasts for 2022

In 2021, the Brazilian trade balance recorded a surplus of US$ 61 billion. The value was 21.1% higher than the balance in 2020, when, on a daily average, the surplus was US$ 50.4 billion.

• Last week, the financial market predicted that the trade balance will be in surplus of US$ 57.20 billion this year.
• Conversely, the Central Bank projected a surplus of US$ 52 billion for 2022.

Source: G1

To read the full original article please access the link:

https://g1.globo.com/economia/noticia/2022/02/01/balanca-comercial-inicia-2022-com-deficit-de-us-176-milhoes-em-janeiro.ghtml

Sharing is caring!