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Trade balance 2019: 'Brazil had no direction in foreign trade', …

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Trade balance 2019: 'Brazil had no direction in foreign trade', ...

Brazil

23:02 03.01.2020URL short

The Brazilian trade balance registered a US $ 46.674 billion surplus in 2019, the lowest value in 4 years and a 19.6% drop from 2018, according to Ministry of Economy data released on Thursday.

The president of the Brazilian Foreign Trade Association (AEB), José Augusto de Castro, in an interview with Sputnik Brazil, stated that the 2019 trade balance showed that Brazil had "no direction in foreign trade".

"Because in commodity exports, which we have no control over prices or quantity, had a fall in the international market, exports of manufactured goods, which has the main destination to Argentina, falling due to the crisis in Argentina. "said the expert.

The president of AEB noted that imports also fell because the initial forecast in early 2019 was that Brazil would grow by 2.5% or 3%, and this growth will not materialize at 1%.

Exports totaled US $ 224.018 billion, while imports totaled US $ 177.344 billion.

Compared to the previous year, exports fell 7.5% and imports 3.3%. According to the government, the two setbacks explain the fall in the positive balance of the balance.

"At the bottom we had a drop in exports, imports, and the surplus, although alone is a great number, but this surplus does not generate economic activity, only generates a difference between export and import," said José Augusto de Castro.

"What is important to us is the current of trade, that is, the sum of exports and imports. And these two factors were negative," added the expert.

. (tagsToTranslate) Brazil Trade Balance (t) foreign trade

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