Balance of trade closes out Jan with highest surplus for month in 12 years
The increase in the shipments of some types of grain and airplanes caused the Brazilian balance of trade to close out the first month of 2018 with the highest surplus ed for the month in 12 years. In January, the country exported $2.768 billion more than it imported. The number had not been so significant for the month of January since 2006, when the balance had closed at $2.83 billion.
Exports added up to $16.968 billion in January—up 13.8% compared to the same month in 2017 according to the daily average criterion. External sales set a new record for the month since the beginning of the current time series, in 1989.
Sales of basic goods rose 11.2% comparing January 2018 and January 2017. Chief among them were grain corn (92.4%) and grain soy (62.9%).
Semi-manufactured goods surged 1.1%. The sale of industrialized products increased 23.6%, also under the daily average, driven chiefly by airplanes (up 108.7%) against January last year.
In 2017, the average price of exports hiked a mere 0.81%. The amount exported, however, increased 12.9%, compensating for the stability in the price of commodities.
Imports
The recovery of the economy also caused imports to continue rising in January. Imports amounted to $14.198 billion last month, up 16.4% against January last year according to the daily average criterion.
Fuel and lubricant imports surged 96.3% from January 2017. Intermediary and consumption goods went up 5.8% and 19.2% respectively. Capital goods (machines and equipment used in production) boosted 11.4% in 2017.
After the balance of trade closed out 2017 at 67 billion, history's highest result, the market estimates a lower surplus in 2018, driven mainly by the recovery of the economy, which resumes consumption as well as imports.
According to the Focus readout, a weekly survey covering financial institutions released by the Central Bank, market analysts forecast a $54.5 billion surplus this year.
Translated by Fabrício Ferreira
Fonte: Balance of trade closes out Jan with highest surplus for month in 12 years
