off-the-wire

UPDATE 1-Brazil posts lower than expected trade surplus in April

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details) BRASILIA, May 2 (Reuters) - Brazil's trade surplus in April was lower than expected by the market, official data showed on Tuesday, in a month marked by price drops affecting both exports and imports. The country's trade surplus amounted to $8.2 billion in April against the $8.6 billion forecast by economists in a Reuters poll.


Exports declined by 0.3% from the same month in 2022, to $27.4 billion, affected by double-digit decrease in prices of important Brazilian products such as crude oil, iron ore and beef.


There was also a 33.1% contraction in corn sales, which had been growing in previous months, fueled by China's appetite.


Imports in April fell by 2.6% from a year ago to $19.1 billion, affected by a 9.1% price decline.


In the first four months of the year, Brazil's trade surplus reached $24.1 billion, a 17.9% increase compared with the same period last year. (Reporting by Marcela Ayres; editing by Jonathan Oatis)

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