Exports in Brazil surpassed imports by $140 million in the first two weeks of October, according to figures released today (Oct 13) by the Ministry of Development, Industry and Foreign Trade. Since the beginning of the month, the country has exported $6.752 billion and imported $6.612 billion.

With the positive result, the trade deficit for 2014 (January to October) declined to $554 million, against a surplus of $812 million reported in the same period in 2013. Thus far into the year, imports have totaled $180.941 billion—a reduction of 2.6% compared to 2013. Exports, however, fell more considerably and now add up to $180.387 billion—down 3.3%.

According to the ministry, factors such as Argentina's economic situation—which affected Brazil's exports to Argentina—, reduced prices of commodities, and the importation of oil and oil products account for the negative outcome for the balance of trade in 2014.

In October alone, sales of manufactured goods plunged 26.1% and the exports of basic products shrank 14.2% compared to the same month last year. The only category to experience a rise in exports was that of semi-manufactured foods—up 19.1%, driven by cast iron and brown sugar.