Brazil trade balance sees record-breaking $ 67 billion surplus in 2017

The recovery in commodity prices and a record crop led Brazil's balance of trade to achieve the biggest annual surplus ever. In 2017, the country's exports surpassed imports by $ 67 billion.  This is the best result since the beginning of Brazilian government's time series, in 1989.

The positive balance meets the expectations of the Ministry of Industry, Foreign Trade and Services, which had projected a trade surplus between $ 65 billion and $ 70 billion for 2017.  In December alone, the trade surplus reached $ 4.99 billion.

The country's exports reached $ 217.7 billion in 2017, a 18.5% increase over 2016, based on the daily average criterion. It was the first rise in five years.  It was not enough, however, to equal the record registered in 2011, when Brazilian exports reached $ 256 billion.

The economic rebound also led to a rise of the imports last year. The country imported $ 150.7 billion in 2017, a 10.5% increase over 2016 based on the daily average criterion. It was the first rise in three years.

Translated by Mariana Branco.