Increase in meat export from Brazil
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Increase in meat export from Brazil.

In the fourth week of March, Brazil achieved a trade surplus of $2 billion(Increase in meat export Industry from Brazil).

In the fourth week of March, Brazilian foreign trade saw a surplus of $2.07 billion, as per data from the Foreign Trade Secretariat of the Ministry of Development, Industry, Commerce, and Services (Secex/MDIC). Total trade activity during this period amounted to $11.84 billion, comprising exports of $6.96 billion and imports of $4.88 billion.

Released on Monday, March 25th, the Preliminary Partial Trade Balance for the month revealed promising indicators for Brazil both in the month-to-date and in the year 2024. March witnessed a positive balance of $5.54 billion, with exports totaling $21.92 billion and imports at $16.37 billion, resulting in a total trade volume of $38.29 billion.

Year-to-date figures up to the fourth week of March showed a 5.5% increase in exports, reaching $72.42 billion, while imports grew by 0.8%, totaling $54.93 billion. Consequently, the trade surplus amounted to $17.49 billion, marking a 23.9% growth, and the overall trade volume recorded a 3.4% increase, reaching $127.36 billion.

So far this year, the positive balance in Brazilian foreign trade has reached USD 17.49 billion, with the total trade flow hitting USD 127 billion With Significant Increase in meat export from Brazil.

EXPORTS — Upon examining exports up to the fourth week of March 2024 compared to March 2023, Brazil observed a growth of $44.82 million, equivalent to 6.8%, in products from the Manufacturing Industry. However, there was a decrease of $38.92 million (-9.9%) in Agriculture and a decrease of $64.19 million (-17.5%) in the Extractive Industry. The Secretariat of Foreign Trade attributed this decline to reductions in specific products:

– Agriculture: Soybeans (-17.3%); Unmilled maize, excluding sweet corn (-75.8%); Rice in the husk, Paddy or rough (-99.9%); Oilseeds of sunflower, sesame, rapeseed, cottonseed, and others (-48.6%); and rough wood (-43.4%).
– Extractive Industry: Crude petroleum or bituminous mineral oils (-30.3%); other crude minerals (-47.8%); and other ores and concentrates of base metals (-58.2%). Whereas, there has been a constant Increase in meat export sector.

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BRAZIL IMPORT SECTOR

IMPORTS — During the same comparative period, imports saw significant growth across various sectors: Agriculture surged by $4.65 million (25.2%), the Extractive Industry saw a notable increase of $16.93 million (27.2%), and products from the Manufacturing Industry recorded a substantial rise of $42.23 million (4.8%). Notable increases were observed in key sectors:

– Agriculture: Horticultural products, fresh or refrigerated (up by 102.3%); Fresh or dried fruits and nuts (up by 37.6%); Whole fish, live, dead, or refrigerated (up by 18.2%); Unmilled maize, excluding sweet corn (up by 260.6%); and Unmilled barley (up by 50.2%).
– Extractive Industry: Crude petroleum or bituminous mineral oils (up by 54.9%); Natural gas, liquefied or not (up by 62.6%); Iron ore and concentrates (up by 5,937.6%); and Stone, sand, and gravel (up by 4.3%).
– Manufacturing Industry: Motor vehicles for the transport of goods and special purposes (up by 55.3%); Passenger motor vehicles (up by 30%); Pumps for liquids, liquid elevators, and their parts (up by 114.3%); non-electric motors and machines, and their parts, excluding piston engines and generators (up by 18.9%); and Aircraft and other equipment, including their parts (up by 45.9%).

USDA ERS - Chart Detail

MONTHLY COMPARISON

MONTHLY COMPARISON — Export averages up to the fourth week of March 2024 ($1.36 billion) showed a 4% decline compared to March 2023 ($1.42 billion). Conversely, imports experienced a 6.6% surge in the same comparison, reaching $1.02 billion in 2024 against $959.64 million in 2023.

As of the fourth week of this month, the daily trade flow averaged $2.39 billion, with the daily balance resting at $346.72 million. This marks a notable 0.3% uptick compared to March 2023’s daily average.

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