Brazil trade surplus record to $8.8 billion in June

Brazil’s trade surplus for June was $8.814, according to official data released on Friday, falling short of market estimates.

A $9.994 billion surplus was predicted by economists surveyed by the media for the month.

After last year, the reading was the best for the month of June since the records began to be kept in 1989.

Exports increased by 15.6% from June of previous year to $32.7 billion, while imports increased by 33.7% to $23.9 billion, according to the Economy Ministry.

The value of tradable products has increased due to pressures on global inflation, rising food and energy costs, and supply chain disruptions caused by the conflict in Russia and Ukraine.

However, Brazilian imports have grown more quickly, leading the government to update its annual predictions.

A $34.2 billion surplus, down from a $37.0 billion surplus in the same time last year, marked the first half of 2022. The government now anticipates having a $81.5 billion surplus by the end of 2022.

The amount is significantly lower than the April prediction of a $111.6 billion 2022 surplus.

The forecast for exports was marginally upgraded from $348.8 billion to $349.4 billion in 2022. From the prior forecast of $237.2 billion, imports are now anticipated to reach $268.0 billion this year.

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