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Brazil's April mineral imports surged by 58.1% year-on-year,

Brazil's April mineral imports surged by 58.1% year-on-year,

2022-05-07

Brazil's April mineral imports surged by 58.1% year-on-year, and it is predicted that this year's foreign trade surplus will exceed the $100 billion mark for the first time

According to data released by the Brazilian Ministry of Economy on the 5th local time, in April this year, Brazil's foreign trade achieved a surplus of US$8.15 billion, which was lower than the US$10 billion in the same period last year.

Data show that Brazil’s exports in April were US$28.9 billion, a year-on-year increase of 16.7%. Among them, the export of industrial products increased by 35% year-on-year. Exports of agricultural products increased by 12.7% year-on-year, of which beef exports increased by 72.1% and soybean exports increased by 7.1%. However, mineral exports fell 10.2% year-on-year.

The import value in April was 20.75 billion US dollars, a year-on-year increase of 35.7%. Among them, the import of mineral products increased by 58.1% year-on-year, the import of industrial products increased by 35.5% year-on-year, and the import of agricultural products increased by 33% year-on-year. That month, Brazil's oil and fertilizer imports increased by 114.3% and 318.7% year-on-year, respectively.

The data also shows that in the first four months of this year, Brazil's total exports were US$101.19 billion, a year-on-year increase of 23.8%; total imports were US$81.24 billion, a year-on-year increase of 27.6%. Comparing the two, in the first four months of this year, Brazil achieved a total foreign trade surplus of US$19.95 billion, a year-on-year increase of 10.5%.

In the first four months of this year, the main export destinations of Brazilian products were: China US$29.5 billion, the EU US$14.81 billion, the United States US$10.5 billion and Argentina US$4.44 billion. The main sources of imported goods in Brazil are: China US$18.95 billion, the United States US$15.79 billion, the EU US$13.2 billion and Argentina US$3.59 billion.

Brazil's Ministry of Economy predicts that Brazil's foreign trade surplus will exceed the $100 billion mark for the first time this year, reaching $111.6 billion, much higher than last year's record $61.4 billion. The latest forecast of Brazil's financial market is that the country's foreign trade surplus this year will reach 69.5 billion US dollars.


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