Brazil’s August Trade Surplus

SAO PAULO (Reuters) – Brazil posted a trade surplus of $4.828 billion in August, according to government data released on Thursday. This figure marks a decline of nearly 50% compared to a year earlier and fell short of market expectations, which estimated a $6.1 billion surplus as per a Reuters poll of economists.

Key Figures

• Exports: Totaled $29.1 billion last month, down 6.5% year-on-year, primarily due to reduced shipments of soybean, corn, iron ore, and oil.
• Imports: Increased 13% in August, reaching $24.3 billion, partly due to rising imports of chemical fertilizers, medicines, and non-electric engines and machines.

Year-to-Date Overview

Brazil’s largest economy reported a cumulative trade surplus of $54.1 billion for the first eight months of the year, a 13.4% decrease from the same timeframe in 2023.