Brazil posts surprise $712 million trade surplus in May

By: | at 12:02 PM | International Trade  

Brazil posted a trade surplus BRTBAL=ECI of $712 million in May, recovering from a weak start to the year but still below historical levels, government data showed.

The surplus was in marked contrast to market expectations for a deficit of $50 million, according to the median forecast of 15 analysts surveyed by Reuters. The country posted a surplus of $506 million in April.

Brazil’s trade balance has been hit hard by rising fuel imports and a drop in the price of some key exports such as iron ore. A sharp depreciation of the Argentinian peso has also curbed manufacturing exports to the neighboring country.

In the 12 months through May, Brazil’s trade surplus dropped to $3.08 billion, less than half the surplus recorded one year ago. (Reuters)


Be the first to comment on this article!

To avoid Spammers, we ask that you log in using your account. Free accounts have access to commenting.

Did you forget your password?

It happens...