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Brazil’s trade surplus widens in May on exports

By: | at 08:00 PM | International Trade  

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.