World

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 2

Published July 1, 2011 Updated July 1, 2011 06:20pm

1 min

By Imad Uddin

Add BRecorder as a trusted
source on Google

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.

Read Comments