Minas Gerais maintains trade surplus in July.

Last month, Minas Gerais' trade balance was US$1,31 billion, with exports totaling US$1,77 billion and imports US$464,07 million; the state accounted for 10,9% of Brazilian exports and 3,9% of Brazilian imports; China remained the main destination for Minas Gerais' exports in July, representing 26,5% of the total traded by the state abroad; followed by the United States (8%) and Japan (5,3%); the data is from Exportaminas, the foreign trade unit of the State Secretariat for Economic Development.

August 09, 2016, 16:49 PMUpdated May 28, 2019, 08:49 AM

Last month, Minas Gerais' trade balance was US$1,31 billion, with exports totaling US$1,77 billion and imports US$464,07 million; the state was responsible for 10,9% of Brazilian exports and 3,9% of Brazilian imports; China remained the main destination for Minas Gerais' exports in July, representing 26,5% of the total traded by the state abroad; followed by the United States (8%) and Japan (5,3%); the data is from Exportaminas, the foreign trade unit of the State Secretariat for Economic Development (Photo: Leonardo Lucena).

Mines 247 - Minas Gerais maintained a trade surplus in July, strengthening international trade with 145 destination markets. Last month, the state's trade balance was US$1,31 billion, with exports totaling US$1,77 billion and imports US$464,07 million. The state accounted for 10,9% of Brazilian exports and 3,9% of Brazilian imports. The data comes from Exportaminas, the foreign trade unit of the State Secretariat for Economic Development (Sede).

China remained the main destination for mining exports in July, representing 26,5% of the total traded by the state abroad. Next were the United States (8%), Japan (5,3%), Argentina (5,1%), and the Netherlands (4,7%).

China was also the main source of mineral imports, accounting for 18,6% of the total, followed by the United States (13,5%), Italy (8,7%), Argentina (8,1%), and Germany (7,0%).

The main products exported by the state in July were iron ore; ferroalloys, pig iron and their products; coffee; sugar; and gold and precious stones. The state's imports consisted of electrical machinery and equipment; mechanical machinery and instruments; fertilizers; automotive products; fuels and mineral oils.

The state invests in new market opportunities.

After 17 years of negotiations, Brazil signed a bilateral agreement with the United States in July for the sale of fresh Brazilian beef. With the opening of the market, Brazil is expected to gain US$900 million annually from exports, with the first shipments of the product predicted to begin this year, according to the Ministry of Development, Industry and Foreign Trade. The agreement could boost the meat market in Minas Gerais.

According to data from the Agribusiness Panorama, by the Secretariat of Agriculture, Livestock and Supply (Seapa), in 2015 the revenue from beef exports was the third best in the last 10 years, reaching US$ 400 million.

In July, Minas Gerais' trade balance with the United States was US$80,29 million, compared to US$35,67 million in the previous month, a result of the drop in Minas Gerais' imports from the United States. According to Exportaminas, the main Minas Gerais product exported to the US was green and roasted coffee (US$52,73 million).

In 2015, the exported value of the product totaled US$733,94 million, equivalent to 33,0% of Minas Gerais' exports to the United States. Next were cast iron, iron, or steel pipes (US$215,34 million), ferroalloys (US$204,30 million), pig iron and iron (US$160,58 million), among others. From June to July 2016, ferroalloys showed the greatest absolute variation, with a change of US$5,11 million, followed by green and roasted coffee, with an increase of US$4,46 million.

*With advisory information