Trade balance registers record US$ 9.29 billion surplus in MayJun, 01, 2021 Posted by Ruth Hollard
The trade balance registered a surplus of US $ 9.291 billion in May, the Ministry of Economy reported on Tuesday, June 1. The positive balance is recorded when exports exceed imports. If the opposite occurs, a trade deficit is registered.
Last month, exports totaled US$ 26.948 billion, and imports totaled US$ 17.657 billion, according to official figures.
According to the government, this is the largest trade surplus for May since the Ministry of Economy began recording the data in January 1989.
Until this May, the largest monthly surplus for May was registered in 2020, when exports surpassed foreign purchases by US$ 6.837 billion (revised value).
The strong result is related to the increased global demand for basic products, such as food and iron ore, which have become more expensive. The high dollar in Brazil also makes Brazilian foreign sales more profitable.
Source: Ministry of Economy
Year to Date
In the first five months of this year, the government reported that the trade balance registered a positive balance of US$ 27.529 billion, 74.3% higher than the same period in 2020 when the trade balance registered a positive balance of US$ 15.793 billion.
From January to May, exports totaled US$ 109.065 billion, an increase of 31.1% in the daily average compared to the same period last year, and imports totaled US$ 81.563 billion, an increase of 20.9%.
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