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Historic Surplus in the Trade Balance

July was a special month for the Brazilian trade balance: since 1989, this was the month with the largest surplus, adding USD 8.1 billion in exports more than imports in the period. With total exports of USD 19.6 billion, June surpassed even the USD 7.7 billion in May 2017, the second highest number since the beginning of the historical series.

According to the Secretary of Foreign Trade, Lucas Ferraz, "We have a trade balance very formatted according to what has been happening in the external scenario, in terms of the destination of our main exports and, on the imports side, formatted by a domestic conjuncture, which is in full recovery, but which still takes some time to be reflected in the imports".

The Secretary of Foreign Trade (SECEX) said that the amount of exported products of all categories increased compared to the same period last year, especially in the mineral extraction industry and agriculture and livestock. According to Ferraz, "the high resilience of exports of agriculture and agribusiness in general.

The secretary also commented that the growth trend diverges from what was happening in the first months of the year. This is due to the recovery of the Asian market facing the crisis in COVID-19, one of the largest consumers of Brazilian agricultural products.

A despeito dos produtos agrícolas, que são menos impactados pela variação de renda, o seguimento de exportação de produtos industriais está abalado, visto que os mercados mais importantes, como Europa, Argentina e Estados Unidos, seguem sofrendo os impactos da pandemia.

SECEX estimates that by the end of the year exports of manufactured products will show growth and stability, since a normalization has already been observed in the European continent and the others should follow the same trend.

Source: Siscomex

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