Brazil's trade balance in January had a deficit of 1.745 billion dollars, the Ministry of Economy's Foreign Trade Secretariat reported on Monday (03.02.2020/XNUMX/XNUMX).
According to the statement, "there was a trade deficit of 1.745 billion dollars in the month (of January), caused, to a large extent, by the import of oil platforms."
Total exports in January 2020 totaled US$14,4 billion, a 20,2% decrease compared to January 2019, and imports totaled US$16.175 billion, a 1,3% decrease compared to the same month last year.
In the last 12 months, Brazilian trade flow decreased by 7.3%, as a result of factors such as: structural adjustments in the trade relationship between the world's largest economies, with increased global uncertainty and adverse developments in GDP growth in international trade. In addition, on the domestic front, there is an economy in the process of recovery.
The statement also cited the challenges facing the Argentine economy, the main destination for Brazilian exports of manufactured goods, and the disease that affected the pig herd in China, the main destination for Brazilian exports.
According to Herlon Brandão, Undersecretary for Intelligence and Foreign Trade Statistics at Secex, "the January trade deficit was a one-off and should not be a trend for the year."
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