The new indicator provides new outlooks on Brazil’s balance of trade.
FGV’s Brazilian Institute of Economics (IBRE) will now publish the Foreign Trade Indicator – Icomex on a monthly basis. Launched this Wednesday, April 26, the new indicator provides new outlooks on Brazil’s balance of trade. IBRE’s goal with the new indicator is to help improve the country’s economic activity rating, offering an in-depth analysis of import and export results.
“The idea is to promote extensive debate on the development of the processing industry and the importance of foreign trade. Icomex is also another element that can be used to improve the assessment and monitoring of the GDP’s development,” said Lia Valls, researcher in IBRE’s area of Applied Economics and part of the team responsible for the indicator.
The indicator will provide separate data on the performance of commodities and non-commodities, in addition to integrated data on the main industry segments, such as the processing, agricultural and extractive industries. The report also includes the results of the balance of trade by use categories: capital goods and durable, non-durable, semi-durable and intermediate goods, sorted by type of industry. The data is compatible with national accounts and based on the IBGE’s National Classification of Economic Activities (CNAE).
“Since the Brazilian product mix consists of 60% of commodities, we believe it is relevant to break down the mix, featuring the main products exported by Brazil,” said the economist. According to Valls, the balance of trade is more favorable, given the higher commodity prices in the foreign market and the greater volume of non-commodity exports.
The indicators are based on data as of January 1997, calculated by the Fischer method.
The results of the survey are available on the website.