The Foreign Trade Secretariat of the Ministry of Economy reported this Monday (1st) that the Brazilian trade balance registered a surplus of US$ 5.4 billion in July.
The surplus is recorded when exports exceed imports. When the opposite happens, the result is a deficit.
Overall, according to the government:
- at exports in July they added US$ 29.955 billion;
- at imports in July they added US$ 24.511 billion.
The result released this Monday represents a drop in the balance compared to the month of June, when the surplus was US$ 8.8 billion.
In addition, the July 2022 balance represents a drop of 27% compared to July 2021, when the balance surplus was US$ 7.4 billion. In the comparison of the daily average, the fall was of 22.7%.
Month-to-month result in 2022
Source: Ministry of Economy
After the presentation of the result, the undersecretary of Intelligence and Foreign Trade Statistics, Herlon Brandão, stated that the drop in the comparison between June and July was motivated by the higher rate of increase in imports, especially in relation to the price of products purchased by Brazil. , such as fuels and fertilizers.
Both products have been in high demand this year due to the conflict between Russia and Ukraine.
“Over the year, we have seen growth in imports greater than the increase in exports. On the import side, the main good that Brazil imports and that is influenced by price are fuel and fertilizers,” he said.
“It’s basically the price effect that is more prevalent on the import side,” he added.
Fuel imports grew 70% in price in July and 16.5% in volume, compared to the same month last year. In the year, the high was 88.5% in price and 3.5% in volume.
From January to July this year, according to official data, the trade balance had a positive balance of US$ 39.8 billion, down 10.4% compared to the same period last year, when the surplus totaled US$ 44.4 billion.
According to the Ministry of Economy, from January to July this year:
- at exports added up US$ 194.079 billion;
- at imports totaled US$ 154.328 billion.
Last month, the Economy Ministry revised down its trade surplus forecast for this year. The estimate is for a positive balance of US$ 81.5 billion, compared to US$ 111.6 billion expected in the previous forecast.
Despite the drop in the projection, the result, if confirmed, will still be a record in the historical series that began in 1989. Until then, the largest balance was recorded in 2021 (US$ 61.4 billion).
The government’s expectation is that exports will total US$ 349.4 billion in 2022, and that foreign purchases will reach US$ 268 billion this year.