Economy

US$ 1.111 billion trade surplus in first week of January

Jan, 11, 2021 Posted by Ruth Hollard

Week 202102

Data released on Monday, January 11, by the Foreign Trade Secretariat (SECEX) of the Ministry of Economy show that in the first week of January, with five working days, the Brazilian trade balance registered a surplus of US $ 1,111 billion due to exports worth US$ 4.855 billion and imports of US$ 3.744 billion.

Comparing the daily average exports up to the first week of January 2021 (US$ 971.04 million) with that of January 2020 (US$ 658.84 million), there was an increase of 47.4% due to increased sales of products from the Extractive Industry (75.0%), Agriculture and Livestock (44.9%), and the Manufacturing Industry (36.8%).

The increase in exports was mainly driven by the growth in sales of the following products from the Extractive Industry: Iron ore and concentrates (+ 86.0%); Crude petroleum or bituminous mineral oils, raw (+ 42.0%); Copper ores and concentrates (+ 315.1%); Other base metal ores and concentrates (+ 189.2%), and Other crude minerals (+ 66.0%). In relation to agriculture, growth was driven mainly by the increase in sales of raw cotton (+ 120.0%); Unroasted coffee (+ 93.5%); Unground corn, except sweet corn (+ 74.2%); Wheat and rye, unground (+ 425.8%); and Spices (+ 144.0%). In relation to the Manufacturing Industry, the highlight was the growth in sales of sugars and molasses (+ 94.5%); Soybean meal and other animal feed, excluding unground cereals, meat, and other animal meal (+ 105.6%); Gold, non-monetary, excluding gold ores and concentrates (+ 92.7%); Pig iron, Spiegel iron, sponge iron, iron or steel granules and powder and iron-alloys (+ 108.6%); and Fresh, chilled, or frozen beef (+ 43.5%).

In imports, the daily average until the first week of January 2021 (US$ 748.88 million) was 1.8% above the average of January 2020 (US$ 735.37 million). In this comparison, expenditures increased, mainly with Agriculture (3.8%) and with products from the Manufacturing Industry (1.7%). On the other hand, there was a decrease in spending on purchases from the Extractive Industry (-20.2%).

The increase in imports was mainly driven by the growth in purchases of the following agricultural products: Soy (+ 493.3%); Unground corn, except sweet corn (+ 94.6%); Paddy or raw rice (+ 579.7%); Spices (+ 103.9%); and Non-oil fruits and nuts, fresh or dried (+ 8.0%). Regarding the Manufacturing Industry products, the increase in imports is mainly due to the growth in purchases of Copper (+ 150.8%); Thermionic valves and tubes, cold cathode or photocathode, diodes, transistors (+ 26.6%); Fertilizers or chemical fertilizers, except crude fertilizers (+ 26.6%); Nitrogen-function compounds (+ 89.0%); and Other products from the chemical industry (+ 90.8%).

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