Brazilian exports had the smallest decrease in October this year compared in value with the same period of 2014. The slowdown of the decline in foreign sales (4.1% during last month at the daily average) has contributed to the trade surplus of 2 billion USD, the largest of October in four years.
For the government, the recent stability of commodities prices (raw materials that represent around 50% of what Brazil sells), after the decline recorded on the second semester of 2014, will support the favorable export performance in the coming months.
During the first ten months of the year, the export value was reduced by 16.4% which mainly reflects the pricing drop for basic products, such as ore and soybeans. During the same period, the total volume exported was increased by 9%.
The price effect has been dissipating, said Herlon Brandão, director of the Ministry of Development, Industry and Foreign Trade (Mdic). The reduction of exports will be smaller [from now on].
On the slice per consumer market, exports to China had the best performance, with increase by 32% in comparison to October 2014.
According to Brandão, the growth can be explained due to the fact that soybeans shipments for the Asian country remained high, despite the current offseason. This year, Brazil harvested an record volume of grains.
The country’s sales for Argentina, another major consumer market, had the first growth on the annual comparison since 2013. This increase, however, was shy, by 0.7% and Mdic states that it is still early to talk about recovery.
IMPORTS
The decline in imports also slowed in October, but was still crucial to the improvement of the trade balance.
Affected by the downturn in economic activity and rise in the dollar, imports decreased by 21% in October, totalizing 14.1 billion USD. On the previous month, the decrease was by 33% in an annual comparison.
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