Tags: Brazil | trade | balance | imports

Brazil Posts Worst Trade Balance Since 2000 on Surging Imports

Thursday, 02 Jan 2014 12:42 PM

Brazil last year posted the worst trade balance since 2000 as consumer demand boosted imports and slower global growth crimped sales abroad.

Latin America’s biggest economy had a trade surplus of $2.56 billion in 2013 as imports rose 6.5 percent to $240 billion and exports dropped 1 percent to $242 billion, the Trade Ministry said in a report posted on its website today. That’s the worst performance since Brazil had a trade deficit in 2000.

Brazil had a trade surplus of $2.65 billion in the last month of the year, exceeding forecasts for a $1.5 billion surplus made by economists surveyed by Bloomberg.

Brazil’s economy grew 2.3 percent last year, more than double the pace of 2012 while still trailing the Latin American average of 2.37 percent, according to analysts polled by Bloomberg. Retail sales have outpaced gains in gross domestic product, expanding an average 4 percent in the first 10 months of 2013 as the jobless rate dropped.

The real, which depreciated 13.3 percent last year, fell 1.6 percent to 2.4008 per U.S. dollar at 3:03 p.m. local time.

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Brazil last year posted the worst trade balance since 2000 as consumer demand boosted imports and slower global growth crimped sales abroad.
Brazil,trade,balance,imports
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2014-42-02
Thursday, 02 Jan 2014 12:42 PM
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