Brazil posts trade surplus of $8.8 billion in June
BRASILIA (Reuters) – Brazil’s commerce surplus reached $8.814 in June, official figures confirmed on Friday, under market expectations.
Economists polled by Reuters had projected a $9.994 billion surplus for the month.
The studying was the second finest for the month of June, after final yr, for the reason that figures have been recorded in 1989.
In line with the Financial system Ministry, exports grew 15.6% from June final yr, to $32.7 billion, whereas imports jumped 33.7% to $23.9 billion.
International inflationary pressures have been boosting the worth of tradable items, amid rising meals and vitality costs and disrupted provide chains with the Russia-Ukraine warfare.
However Brazilian imports have elevated sooner, which has prompted the ministry to revise its projections for the yr.
The primary half of 2022 ended with a $34.2 billion surplus, down from $37.0 billion within the year-ago interval. The federal government now expects to finish 2022 with a $81.5 billion surplus.
The quantity represents a serious lower from the $111.6 billion 2022 surplus estimate made in April.
The outlook for exports was revised barely as much as $349.4 billion in 2022, from $348.8 billion. Imports at the moment are anticipated to succeed in $268.0 billion this yr, up from the earlier $237.2 billion estimate.
(Reporting by Isabel Versiani and Bernardo Caram; Writing by Peter Frontini; Modifying by Jonathan Oatis and Richard Chang)
