After a 2016 decline in exports (-3.1%) from Brazil, sales of products from the country out came to a standstill in 2017, up 17.5%. The figures are from the Economic Commission for Latin America and the Caribbean (ECLAC), which points to the Brazilian surplus as the engine of growth in regional foreign trade last year. Organism also associates expansion to the valorization of metals and minerals in the international scenario.
After a 2016 decline in exports (-3.1%) from Brazil, sales of products from the country out came to a standstill in 2017, up 17.5%. The figures are from the Economic Commission for Latin America and the Caribbean (ECLAC), which points to the Brazilian surplus as the engine of growth in regional foreign trade last year. Organism also associates expansion to the valorization of metals and minerals in the international scenario.
Last year, the volume of Brazilian exports reached 217.7 billion dollars. Imports reached the mark of 150.7 billion, an increase of 9.6% compared to 2016, when the purchase of goods from other countries fell 19.8%. The Brazilian surplus of 2017 was estimated at 67 billion dollars.
In Latin America and the Caribbean, exports reached a total of US $ 978.6 billion, almost 13% more than in 2016. The increase was above the world average for 2017 (10.1%). Imported goods amounted to 976.4 billion, an increase of 8.7%.
The small positive balance in the region’s trade balance was assured by the performance of Brazil and Venezuela, which had a surplus of 25.6 billion dollars. The two countries compensated trade deficits in countries such as Argentina and Mexico, with a negative balance between 8 and 10 billion dollars, mainly due to the increase in imports of intermediate goods. Surpluses in Chile, Peru and Suriname also helped to balance trade in the region.
Brazilian products accounted for 22% of all Latin American and Caribbean exports in 2017 – Brazil is second only to Mexico (42%), the largest exporter and importer in the region. Imports from Brazil amounted to 15% of regional purchases. Those of Mexico, 43%.
According to ECLAC, in 2017, Latin American and Caribbean countries benefited from a 25% increase in the prices of aluminum, copper, coal, lead, iron ore and zinc. Higher prices were also verified for oil producers, with an appreciation of 17.9% in the value of the commodity. Ore and oil exports grew 29% last year.
Agricultural commodity fluctuations were varied – oils and oilseeds had steep price rises, while cocoa beans, coffee, sugar, tobacco, and wheat declined.
The UN economic commission also identified a 10.4% expansion in trade between Latin American and Caribbean nations. But intraregional trade accounted for only 16% of all exports, a smaller proportion than in 2016 (16.4%).
Surplus with the United States, deficit with China
ECLAC points out that, in 2017, the surplus of Latin America and the Caribbean in relation to the United States has increased to US $ 116 billion. Reaching 427 billion dollars, the region’s exports to the United States grew 8.6%. In 2016, the figure was contraction (-8.4%).
With Asia, however, the picture is reversed. The trade deficit has risen to $ 107 billion, despite rising exports to Asian countries. In 2017, 20.1% of Latin American and Caribbean exports had the continent as a destination. In the previous year, the index was 18.1%.
Source: ONUBR – United Nations in Brazil
