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LATIN AMERICA: "Brazil Demand Declines Continue to Moderate (Dec. '14)" report

LATIN AMERICA: "Brazil Demand Declines Continue to Moderate (Dec. '14)" report. 5-page report by BAIRD.

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back to index backLATINtalk November,  2005

Brazil September trade surplus widens from August

Brazil posted a trade surplus of $4.3 billion in September as strong exports and weaker imports pushed the result above the $3.67 billion surplus posted in August, the trade ministry said on Monday.

The surplus came in at the low end of economists' estimates which ranged from around $4.3 billion to $4.5 billion.

The figures widened the year-to-date surplus to $32.67 billion.

Brazil's currency, the real, is trading near its strongest in 40 months and has made imports more affordable for Brazilian consumers and manufacturers.

Spiking costs for key commodities contributed to a jump in the dollar value of exports of key farm products like soy. Sales of manufactured goods ranging from aircraft to shoes have held up despite a stronger real.

"Exports and imports are still growing at relatively high rates, but exports are increasing at a faster rate," said Sandra Utsumi, an economist at BES Investimento in Sao Paulo.

Exports fell slightly to $10.6 billion in September from $11.35 billion in August. Imports were down to $6.3 billion in September from $7.7 billion in August.

Economists surveyed by the central bank in its latest weekly survey predicted Brazil's trade surplus would end the year at $41 billion.

Brazil's government is expected to revise its full-year estimate later on Monday after Trade Minister Luiz Fernando Furlan said the surplus was over $41 billion in the 12 months to September.

Source: Reuters - GAI

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