Brazil's June trade surplus is year's highest
SAO PAULO: Brazil posted its biggest trade surplus of the year so far in June as imports fell for the first time in 2011 and exports advanced slightly.
The country's trade surplus reached $4.43 billion in June, well above the revised $3.527 billion in May, the government said on Friday.
The median forecast of 11 analysts in a Reuters poll had predicted a surplus of $4 billion, with forecasts ranging from $3.3 billion to $4.4 billion.
Imports receded in June, down 2.13 percent from May to $19.262 billion.
In contrast, exports rose in June, climbing 2.08 percent from May to $23.692 billion.
In 2010, Brazil's trade surplus dwindled to $20.3 billion from $25.3 billion the previous year as the fastest economic expansion in nearly three decades, coupled with a strong currency, increased demand for imports.
Brazil is a major exporter of food and mineral commodities, including soybeans, beef and iron ore.
COPYRIGHT REUTERS, 2011
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