Brazil Trade Surplus Exceeded Expectations at $7.1B

The trade surplus for the month of March was recorded to reach $7.1 billion according to the government data of Brazil. It has exceeded the expected output with $6.8 billion surplus according to forecasted poll of Reuters. It was not that influenced even though the beef exports fell because of recent corruption scandal causing a non-permanent ban on imports of China and Hong Kong.

The aggregated exports reached $20.1 billion while imports figure was tallied to $12.9 billion. Beef exports declined by 6.1 percent while both poultry and pork exports increased up to 7 and 33.4 percent respectively in comparison with the statistics in the same month a year ago.