BRASÍLIA: Brazil recorded a trade surplus of $4.758 billion in November, government data showed on Thursday, the biggest surplus posted for that month since at least 1989 and more than double the $2.3 billion surplus recorded in October. The result was larger than market expectations for a surplus of $3.0 billion, according to a Reuters poll. Exports totaled $16.220 billion and imports $11.463 billion.
Economists in a weekly central bank poll expect a trade surplus of $47 billion in 2016, more than double last year’s result, after a severe recession curbed demand for imports. Brazil’s trade surplus so far this year has risen to $43.282 billion, a record for the period. A steady inflow of dollars has helped strengthen the Brazilian currency by more than 13 percent year-to-date.
