Brazil posts record trade surplus of US$67 billion in 2017

3 January 2018

Brazil achieved a record trade surplus of US$67 billion in 2017, with exports of US$217.7 billion and imports worth US$150.7 billion, said the Minister of Industry, Foreign Trade and Services, announcing foreign trade figures for last year.

Marcos Pereira said on Tuesday in Brasilia that Brazilian exports recorded year-on-year growth of 18.5% while imports grew 10.5%, leading the balance of trade surplus in 2017 to rise by 40.5% compared with a year earlier when it stood at US$47.6 billion.

Foreign Trade Secretary Abrão Neto said he expects trade in 2018 to increase for the second consecutive year, adding “we expect both export and import values to be the best in the last three years, higher than 2015, 2016 and 2017.”

“The surplus should be robust and stay within the US$50 billion range, which would be the second largest surplus of the Brazilian historical series, only behind 2017,” he said, adding that this was because imports are expected to grow at a greater rate than exports in 2018.

This higher increase in imports will be the result of increased domestic demand, as the “expected growth for the Brazilian economy in 2018 should intensify demand for imports, both by companies and households,” said Neto. (macauhub)