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Brazil posts big June trade surplus, rolls toward record

July 5, 2017 by

Brazil produced another big foreign trade surplus in June, prompting the Ministry of Industry, Foreign Trade and Services to hike its forecast for 2017. June saw a monthly trade surplus of $7.2 billion, down slightly from May’s $7.7 billion, but still enough to assure a whopping first-half surplus of $36.2 billion, up 53% from the first six months of 2016. The ministry is now forecasting a record surplus for the year of $60 billion, up from a previous forecast of $55 billion. The standing record of $47.5 billion was set last year. Export revenues are improving because of higher international commodities prices and greater demand for Brazilian manufactured goods, the ministry said.

Link to IBGE release.

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