Itaú BBA - Imports of oil-drilling rigs reduce the trade surplus in July

Macro Brazil

< Volver

Imports of oil-drilling rigs reduce the trade surplus in July

agosto 1, 2018

Weaker trade balance at the margin, due to higher imports, led by purchases of oil-drilling rigs under the Repetro-Sped regime

For the version with all charts and tables, please open the attached pdf file 
 

The trade surplus reached $4.3 billion in July, significantly disappointing our estimate ($5.5 billion) and market consensus ($5.7 billion). Stronger imports in the last week of the month were behind the surprise. Over 12 months, the trade surplus  shrank to $59 billion, while the seasonally-adjusted annualized quarterly moving average receded to $46 billion from $51 billion.
 

Julia Gottlieb

For the version with all charts and tables, please open the attached pdf file 



< Volver