Brazil has already reached its highest positive trade balance in history this year. Total surplus stood at US$ 62 billion for the period from January to November, after exports of US$ 200.154 billion (up 18.2% from 2016 in the daily average) and imports of US$ 138.146 billion (9.6% more than the same period last year). The numbers has already comfortably beaten Brazil’s previous trade surplus record, achieved last year (US$ 43.3 billion).

The data was published on Friday (1 December) by the Ministry of Industry, Foreign Trade and Services.

Total trade flows (i.e. the sum of all foreign trade transactions) has reached US$ 338.301 billion, up 14.6% from the same period of 2016 by the daily average. "Brazilian exports and imports from January to November saw growth in almost all products, many with increases in both quantity and price," explained the Ministry’s Foreign Trade Secretary, Abrão Neto. The price paid for our foreign sales increased by 10.7%, with a 6.9% increase in volume traded, while the value of imports rose 3.7% after a volume increase of 5.8%.

In November, trade flows stood as US$ 29.830 billion, 7.8% higher than the same month of 2016, with a surplus of US$ 3.546 billion. Exports reached a total US$ 16.688 billion (up 2.9% from November 2016) while imports hit US$ 13.142 billion in the month (up 14.7% in the same comparison basis).

The numbers for the month were driven by strong imports of capital goods (10.8%), in particular agriculture and earthwork machinery and equipment. "This is the fourth consecutive month of growth in imports of capital goods, something that did not occur since March 2013 and goes to show the resumption of productive investments in the country," said Abrão Neto.

The first eleven months of this year saw increased exports to Asia (+26.9%), Mercosur (+18.6%), United States (+17.3%), Middle East (+16%), Central America and the Caribbean (+14.4%), Oceania (+4.6%), and European Union (+4.1%). China led the rank of importers (US$ 46.4 billion), followed by the United States (US$ 24.5 billion), Argentina (US$ 16.0 billion), the Netherlands (US$ 8.6 billion) and Japan (US$ 4.8 billion).

All three main product categories – basic, semi-manufactured and manufactured goods – had positive year-over-year results. Among basic goods, which grew 28%, the highlights were crude oil, iron ore, copper ore, soybean, beef, bulk maize, poultry, pork and raw cotton.

As for semi-manufactured goods, up 13.8%, high sales were driven by iron ore and steel derivatives, cast iron, sawn timber, ferro-alloys, crude soybean oil, raw sugar and cellulose. Finally, manufactured products – up 9% in the period –had as highlights fuel oils, machinery for earthworks, tractors, passenger cars, cargo vehicles, flat laminates, aluminium oxides and hydroxides, engines with chassis, refined sugar, auto parts, footwear, tyres, motor vehicles and parts.