Brazil's trade balance ended the first half of the year with a surplus of 23.000 billion dollars, 10,3% lower than the same period in 2019, due to the impact caused by the coronavirus crisis, the government reported on Wednesday (01.07-2020).
Despite the quarterly result, the South American power broke the record in June by registering the highest positive trade balance for the month since 1989 - when the statistics began to be carried out with the current criteria - with a surplus of $7.463 billion.
This is a result of the decline in economic activity caused by the pandemic and the drop in imports due to the high cost of the dollar.
The US currency appreciated by 1,93% in the month, but in the semester it has accumulated an appreciation of 35,6%.
However, according to the Ministry of Economy, both exports and imports fell last month.
Brazil exported 19.912 billion dollars in June, 12% less than in the same month of 2019, but the blow was harder for thes imports, which fell by 27,4%, with the purchase of 10.449 billion dollars in products from abroad.
According to the economic portfolio, the fall in exports in June was impacted by the decline in foreign sales of the mining industry (-26,1%) and by the drop in sales of oil and iron ore and its concentrates.
The result was also negative for the manufacturing industry, whose exports fell by 21%, mainly due to the drop in sales of processed poultry, vehicles, cellulose and aircraft.
The only sector that exported more in June of this year than in the same month last year was agriculture., selling $57,5 million more abroad, a 29,7% more That the last year.
The main exported products were soh, rice with husk, latex and rubber.
According to the Ministry of Economy, during the first six months of the year, exports fell by 6,4% and imports fell by 5,2% compared to the same period in 2019.
The surplus for the semester is the lowest in the Brazilian trade balance for the period since 2015.
After closing 2019 with a trade surplus of $46.657 billion, the second largest positive result in history, Brazil estimates that the surplus for this year will be smaller due to the impact of the coronavirus crisis.
According to the latest Focus bulletin, a weekly survey of financial institutions published by the Central Bank, market analysts expect a surplus of 53.000 billion dollars for this year, a figure slightly lower than the Government's expectation, which aims for a positive balance of 55.400 billion dollars at the end of the year.
Source: Reuters
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