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.
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