Brazil registers US$1.3 billion trace deficit in November

The Brazilian trade balance registered a deficit of 1.3 billion dollars in November, the worst result for the month since 2014 (-2.7 billion dollars), achieved amidst the most expressive advance in imports, a movement that has been observed for months.

Released on Wednesday by the Ministry of Economy, the result was in line with analysts’ estimate of a negative balance of 1.2 billion dollars, according to a Reuters survey.

Last month, exports totaled US$20.3 billion, up 23.2% according to the daily average. Volumes sold dropped 5.6%, while prices rose 24.1%.

Imports, in turn, jumped 53.1% on the same basis, to 21.6 billion dollars, pulled both by the increase in prices (+34.7%) and by the volume purchased (+4.5%).

From January to November, the trade balance surplus reached 57.2 billion dollars, against a positive balance of 47.7 billion dollars in the same period last year.

For 2021, the most recent forecast of the Ministry of Economy, released in October, was a trade surplus of 70.9 billion dollars, which would be a record value for the series, which began in 1989.

Source: Valor Econômico

To read the full original article, visit the link: https://www.moneytimes.com.br/brasil-tem-deficit-comercial-de-us-13-bi-em-novembro/

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