Brazil March trade surplus $458m as exports jump $17b from $12.1b

SAO PAULO: Brazil had a trade surplus of $458 million in March as exports jumped. The country had posted deficits in the first two months of the year, the trade ministry said.

Exports rose in March to $17 billion, from $12.1 billion in February and imports rose to $16.5 billion in March from $ 15 billion in the previous month.

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Brazil’s currency, the real, has weakened sharply against the dollar since the beginning of the year, making its exports cheaper and more competitive in world markets.

The small surplus in March left a deficit of $5.6 billion for the first quarter, and a deficit of $3.5 billion for the 12 months through March, the trade ministry said.

Last year, Brazil had its first annual trade deficit in more than a decade, of $3.9 billion.