Portugal posts trade surplus with Brazil in June

19 July 2011

Brasilia, Brazil, 19 July – Portugal’s balance of trade with Brazil posted a surplus in June, which had not happened since November of last year.

In June Brazil exported US$54 million in goods to Portugal and imported the equivalent of US$55 million from the Portuguese market, according to figures from Brazil’s Development, Industry and Foreign Trade Ministry.

Portuguese exports in June were more than double those for June of last year and also exceeded the exports of US$54.5 million in May.

In the fist six months of the year olive oil was the most exported product, accounting for over 20 percent of total Portuguese sales to the Brazilian market. Salt cod, accounting for over 11 percent, was another of the top export products in the first half of the year. Copper ore sulphides are also high up on the list of Portuguese exports to Brazil.

Brazil saw a sharp drop in its exports to Portugal in June. Against the previous month the drop was of 82 percent. As compared to June 2010, the fall was of over 60 percent.

Oil, which accounted for over 40 percent of Brazilian sales to Portugal, led the list of exports. Cane sugar, iron and steel laminates, soy, maize and coffee were also notable amongst the items exported by Brazil.

In accumulated terms for this year Brazil has posted a trade surplus due to exports to Portugal of US$967.9 million and imports from Portugal of US$361.1 million. (macauhub)