Brazil records US$ 7.6 bi trade surplus in July

Thursday, August 8th 2024 - 09:24 UTC

Full article 3 comments

Sales to Argentina continued to drop as a result of the latter's seemingly endless crisis

Given that sales abroad reached an all-time high of US$ 30.9 billion in July, Brazil recorded a foreign trade surplus of US$ 7.6 billion, according to data released Tuesday by the Ministry of Development, Industry, Trade, and Services, which represented a 6.6% drop from the US$ 8.2 billion surplus in July 2023, Agencia Brasil reported.

Brazilian exports hit a record high of $30.9 billion in July, fueled by strong demand for soybeans, coffee, iron ore, sugar, beef, and steel. On the other hand, imports also went up from July 2023, reaching a total of US$ 23.3 billion.

The South American country's exports totaled US$ 198.2 billion so far this year, a 2.4% increase compared to the first seven months of 2023. Imports reached US$ 148.6 billion, up 5.6% over the same period.

The European Union, China, and the United States stood out as the main destinations for Brazilian exports in July, with growth rates of 20%, 16.3%, and 15.3%, respectively. However, due to the economic crisis in Argentina, sales to the neighboring country continued to decline last month.

According to Herlon Brandão, Director of Foreign Trade Statistics and Studies at the Ministry of Development, Industry, Trade, and Services, exports in 2024 have been relatively stable. This contrasts with 2023 when sales fluctuated significantly in the first half of the year.

“This stability is attributed to increased export volumes, while prices in general are falling. Our forecast for 2024 is positive, with an expected 1.7% growth in Brazilian exports by the end of the year,” Brandão explained.

Categories: Economy, Brazil.

Tags: Brazil exports, Brazil trade surplus.

Top Comments

Disclaimer & comment rules

no time for you
hahahahahahahaha, really? - even when official numbers from the government show different? https://balanca.economia.gov.br/balanca/pg_principal_bc/principais_resultados.html -
Aug 09th, 2024 - 11:58 am 0
Brasileiro
Please read the gov.br article again. Go to “Imports”, then “Monthly” and at the end of the first paragraph, note the value of US$ 21.22 billion. And at the end of the second paragraph, the percentages of 31% growth in the heading “Non-electric engines and machines”, and 87% in the heading “Vehicles for transportation and special uses”.

I hope you are a child because I really hate wasting my time with adults who have not been properly educated.
Aug 09th, 2024 - 05:50 pm -1
Brasileiro
Most importantly, the increase in imports this year is related to purchases of capital goods. Industrial machinery and equipment are leading this growth. Excellent news!

https://www.youtube.com/watch?v=JKu2bQBNV88
Aug 08th, 2024 - 09:46 am -2

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