October trade balance registers surplus of US$ 3.9 billion

The trade balance for the month of October registered a surplus of US$ 3.92 billion. The result represents a nominal increase of 85.7% compared to the same period in 2021.

According to data released this Tuesday (1st) by the Ministry of Economy, in the month, exports registered an increase of 27.1%, totaling US$ 27.9 billion, while imports totaled US$ 23.37 billion, a high of 19.8%. As a result, trade flow reached US$ 50.67 billion in October.

Considering the accumulated value from January to October this year, the surplus reaches US$ 51.6 billion, registering a decrease of 11.7% compared to the same period in 2021.

According to trade balance data, in comparison with October last year, exports from the agricultural sector grew by 97%, totaling US$ 6.2 billion this year. The sector’s imports registered a drop of 7.9%, with a value of around US$ 400 million.

The extractive industry registered an increase of 91% in imports, with a balance of US$ 1.7 billion. In the case of exports, the sector had a drop of 17.9%, totaling US$ 5.1 billion in October 2022. And the manufacturing industry recorded a rise of 31.6% in exports, with a volume of US$ 15 .8 billion. As for imports, the rise registered in the sector was 18.7%, with a balance of US$ 21.1 billion.

Also according to the Ministry of Economy, the highlights in the case of exports in the agricultural sector were unground corn, except sweet corn, with an increase of 468%, soybeans, with an increase of 52.5% and unroasted coffee, with an increase of of 53.9%, in addition to raw cotton, which registered growth of 64.7%, and rice with husk, which grew 701.7%.

In the case of imports, in the extractive industry sector, the highlights were for crude petroleum oils or bituminous minerals, with a rise of 325.1%, an increase of US$ 44.88 million in the daily average, and for crude fertilizers, excluding fertilizers, with growth of 149.8%, and an increase of US$ 0.84 million in the daily average.