Brazil records lowest trade surplus since 2002
   
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Brazil records lowest trade surplus since 2002

Last Updated: Tuesday, June 4, 2013, 14:08
 
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Brazil records lowest trade surplus since 2002
Brasilia: Brazil recorded a trade surplus of USD 760 million in May, the lowest since 2002, authorities said.

In May this year, Brazil's exports dropped 5.9 percent year-on-year to USD 21.8 billion, while imports increased 4 percent year-on-year to USD 21.1 billion, official figures show. Its trade surplus registered a fall of 74.3 percent from last year, reported Xinhua.

In the first five months of 2013, Brazil's trade accumulated a deficit of USD 5.4 billion, the worst ever recorded for the period.

Exports fell 2.8 percent to USD 93.3 billion during the first five months, while imports increased 9.8 percent to a total of USD 98.6 billion.

In 2012, Brazil registered a trade surplus of USD 19.4 billion, the lowest since 2002, representing a 34.7 percent drop from 2011.

The Brazilian government expects that its trade surplus for the year of 2013 will reach USD 15 billion against the market estimation of only USD 8.3 billion.

IANS



First Published: Tuesday, June 4, 2013, 14:08


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