GDP: Brazilian exports show 3% growth in the 3rd quarter

Exports of goods and services showed a positive performance in the third quarter. According to IBGE, Brazil’s sales to foreign markets increased by 3% from July to September, compared to the previous quarter, in the seasonally adjusted series.

The result exceeded the median of projections gathered by Valor, which indicated a 2.7% increase in exports.

Compared with the third quarter of 2022, exports grew by 10%. In this case, the median of expectations collected by Valor was for a growth of 9.6%.

Imports, on the other hand, fell by 2.1% in the third quarter compared to the second. The result was worse than the median of projections, which pointed to a 1.5% decline in imports.

Regarding the third quarter of 2022, there was a 6.1% contraction in purchases of foreign goods. The median market projection was a decline of 5.7%.

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