Brazil's trade balance in January postes its best monthly result since 2006

Brazil's Ministry of Development, Industry, Trade and Services reported a trade surplus of $2.717 billion in January, the best monthly result since 2006. This figure was slightly below market expectations, which pointed to a trade surplus of $3 billion in the first month of the year.

Last month's trade balance was better than that seen in January 2022. In January 2023, exports stood at $23.137 billion, an increase of 11.7% compared to the same month in 2022. Imports in January amounted to $20.420 billion, down 1.7% compared to the same month last year.

This month's export performance was attributed to a 5.6% increase in product prices, while sales were up 9.5%.

By economic activity, there was an increase in extractive industry exports (+22.3%), especially oil shipments, as well as growth in the transformation industry (+9.9%) and agriculture and livestock production (+4.6%).

On the import side, purchases for the month were down 1.6% and prices rose 5%, as reported by Brasil247, a partner of TV BRICS.

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