Brazil: Merchandise trade surplus widens more than anticipated in October
Latest reading: In October, the trade balance was USD +7.0 billion, following a USD +2.9 billion figure in the prior month. October’s surplus overshot market expectations. Over the last 12 months, the trade balance summed to USD +63.8 billion.
Merchandise exports increased 9.1% in year-on-year terms in October, following a 7.1% increase in the prior month. Growth was supported by stronger agricultural, manufacturing and extractive industries exports. Meanwhile, goods imports declined 0.8% in year-on-year terms in October, coming on the back of a 17.8% increase in the previous month; lower natural gas, crude oil and copper imports were behind the fall.