Brazil’s May trade surplus came in above forecasts and widened from a year ago, as exports grew faster than imports.
Brazil posted a trade surplus of $3.443 billion in May, compared with a previously-reported surplus of $1.28 billion in April, the trade ministry said.
The surplus was expected to total $2.8 billion, according to the median of 15 forecasts in a Reuters survey. The estimates ranged from $1.7 billion to $3 billion.
Brazil posted a trade surplus of $2.62 billion in May of 2009.
Exports totaled $17.7 billion in May from $15.16 billion in April. Imports rose to a total of $14.26 billion last month from $13.88 billion in April.
In May, Brazil’s government announced long-awaited measures to boost exports, including creating a lender, EXIM Brasil, to help finance exports.
There are some worries that a fiscal crisis in the euro zone could hurt Brazilian exports.