Brazil has the 3rd biggest drop in trade among G20 countries, according to the OECD

The total of Brazilian exports and imports in the first quarter of 2019 contracted by US$ 6.9 billion when compared to the previous quarter, according to the Organisation for Economic Co-operation and Development (OECD).

Exports in the first quarter of 2019 were US$ 58.6 billion compared to US$ 62.6 billion in the fourth quarter of 2018. Imports were US$ 42.4 billion, compared to US$ 45.2 billion in the previous quarter.

The surplus of the Brazilian trade balance falls in March

The surplus of the Brazilian trade balance dropped from US$ 6.24 billion in March 2017 to US$ 4.99 billion in March 2019. This is the worst result for the month of March since 2016.

This drop of 22.3% is linked to the crisis in Argentina, Brazil's main trading partner in South America and a major buyer of Brazilian manufactured goods.

Some of the Brazilian products hit hardest by the fall in March are cargo vehicles (68.2%), passenger cars (41.4%) and auto parts (31.4%).

The Brazilian surplus of March 2019 is a result of US $ 18.120 billion in exports and US$ 13.130 billion in imports.

The product most exported by Brazil in the period was raw cotton, which had a 123.6% increase in exports.