Brazil’s trade balance posts biggest February surplus in five years

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A ship is loaded with containers at a cargo terminal in the port of Santos, in Santos, Brazil, September 16, 2021. REUTERS/Carla Carniel

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BRASILIA, March 3 (Reuters) – Brazil posted a trade surplus of $4 billion in February, the best performance for the month since 2017, official data showed on Thursday, amid rising volumes and prices of goods exported.

The monthly result beat the median forecast of a $3.55 billion surplus in a Reuters poll of economists, and was more than double the $1.8 billion surplus recorded in the same period it a year ago.

According to the Ministry of Economy, exports jumped 32.6% from February 2021 to $22.9 billion, benefiting from a 22.6% expansion in volumes and an increase of 13 .5% of prices.

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Imports rose 22.9% to $18.9 billion, as a 30.9% rise in prices more than offset a 2.5% drop in the volume of goods purchased by Brazil.

In the first two months, the country’s trade surplus hit $3.8 billion, jumping 125.4% from a year earlier.

The Ministry of Economy said it expects a record trade surplus of 79.4 billion this year due to a drop in imports, in a context of more moderate growth in world trade. Read more

The projection, however, was made ahead of Russia’s invasion of Ukraine, a conflict that casts a shadow of uncertainty over trade between the countries due to supply bottlenecks after several sanctions. were imposed by Western countries on Russia.

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Reporting by Marcela Ayres Editing by Chris Reese, Kirsten Donovan

Our standards: The Thomson Reuters Trust Principles.

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