Savi’s Clipping #18

Clipping on the air!

Check out some of the highlights regarding Foreign Trade news last week!

Trade Balance tops a US$2.7 billion surplus.

The first month of the year’s Trade Balance has recorded a US$2.7 billion surplus, and has become the highest value for January since 2006.

Exports reached US$23.1 billion, while imports totaled US$20.4 billion. Oil and corn were the major high points in terms of exports.

Brazilian coffee exports set a historical record.

Last year, Brazilian coffee exports set an all-time record in terms of foreign exchange revenue, reaching US$8.5 billion, 46.7% over 2021.

About the volume of coffee that has been shipped, a decrease of 6.6% was registered. The international appreciation of commodities, however, caused the price per kilogram of coffee to rise by more than 55%, which explains its national revenue increase.

Brazil will no longer exempt imports of ethanol.

Despite being an important producer and exporter of ethanol, part of Brazil’s fuel is obtained externally. Since the United States remains as our main supplier, the decision has agitated North Americans, who will pay a 16% tax to export ethanol to the country. In addition, according to the Ministry of Agriculture, in 2024 this tax will be increase to 24%.

Even when the import tax on ethanol was zeroed in March, last year, in order to curb fuel inflation in the country, the decision to reinstate the tax will still prevail.

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