Brazil trade surplus shrinks 20% in 2019 to $46.67 billion, smallest in four years
BRASILIA - Brazil’s trade surplus shrank 20% to $46.67 billion last year, official data showed on Thursday, as upwardly revised exports in recent months failed to mask a widespread slump in overseas demand for Brazilian goods over the course of 2019.
The surplus in 2020 could be even smaller, Lucas Ferraz, trade secretary at the Economy Ministry, said, as strengthening domestic demand lifts overall economic growth to around 2.3% and spurs imports more than exports. For 2019 as a whole, exports were $224 billion and imports were $177.3 billion, resulting in the surplus of $46.67 billion. In 2018, Latin America’s largest economy posted a trade surplus of $58 billion.
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