Uncategorized

Brazil trade surplus sets August high, nears $50 billion in 2017

BRASILIA (Reuters) – Brazil’s trade surplus set a monthly record on August as commodity prices rose, contributing to a gradual economic recovery and a stable currency, official data showed on Friday.

Brazil posted a trade surplus of $5.599 billion in August, the biggest for the month since the current data series began in 1989, the Trade Ministry said.

Exports totaled $19.475 billion and imports $13.876 billion.

Brazil had a trade surplus of $48.109 billion between January and August, also a record. The surplus in the year to date exceeds the $47.7 billion surplus for all of 2016.

Exports rose across the board in August, from raw materials such as soybeans to manufactured goods such as automobiles. Higher prices of iron ore, oil, coffee and sugar contributed to the record surplus, ministry data showed.

Economists expect a record-high trade surplus of $61.35 billion this year, according to a weekly central bank survey released on Monday.

Categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s