BRASILIA--Brazil's trade balance swung to a small surplus in March as exports outpaced imports for the first month so far this year, the country's trade ministry reported Monday.
The ministry said the country registered a trade surplus of $164 million in March following a $1.28 billion deficit in the month of February. The March figure was down from a surplus of around $2.02 billion in March last year, and lower than market forecasts of a surplus around $200 million.
Exports in March totaled $19.32 billion, while imports were $19.16 billion.
Despite the small surplus, the foreign trade result in March was the worst on record for the month since 2001 when the country reported a surplus of $274 million.
With the latest weekly result, Brazil has posted a foreign trade deficit of $5.15 billion for the year to date. The country posted a trade surplus of $19.44 billion in 2012.
Brazil's foreign trade balance has been boosted recently by a weakening of the local currency against the dollar of about 2% over the past month. Trade volume, however, remains adversely affected by still sluggish global economic activity.
-Jeff Fick in Rio de Janeiro contributed to this article.
Write to Gerald Jeffris at gerald.jeffris@dowjones.com
(END) Dow Jones Newswires
April 01, 2013 14:38 ET (18:38 GMT)
The ministry said the country registered a trade surplus of $164 million in March following a $1.28 billion deficit in the month of February. The March figure was down from a surplus of around $2.02 billion in March last year, and lower than market forecasts of a surplus around $200 million.
Exports in March totaled $19.32 billion, while imports were $19.16 billion.
Despite the small surplus, the foreign trade result in March was the worst on record for the month since 2001 when the country reported a surplus of $274 million.
With the latest weekly result, Brazil has posted a foreign trade deficit of $5.15 billion for the year to date. The country posted a trade surplus of $19.44 billion in 2012.
Brazil's foreign trade balance has been boosted recently by a weakening of the local currency against the dollar of about 2% over the past month. Trade volume, however, remains adversely affected by still sluggish global economic activity.
-Jeff Fick in Rio de Janeiro contributed to this article.
Write to Gerald Jeffris at gerald.jeffris@dowjones.com
(END) Dow Jones Newswires
April 01, 2013 14:38 ET (18:38 GMT)
