The Brazilian trade surplus reached record levels for May, at US$6.4bn. It was generated by exports worth US$17.6b and imports of US$11.2bn. For 2016 to date, the surplus stands at US$20bn. This contrasts with the US$2.3bn deficit that accumulated over the same period last year. One sector responsible for the surplus was the car industry, which saw a 40% year-on-year increase in exports in May. The main decline in
imports came from the fuel and lubricants sector, which saw a reduction of 44.3%.
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