Brazil’s trade surplus narrows
BRASILIA - Agence France-Presse
Brazil last year posted its smallest trade surplus in a decade as exports fell more than five percent, the Ministry of Industry and Trade said on Jan. 2.
The surplus totaled $19.4 billion, plummeting 34.8 percent from 2011 in the latest sign of cooling in Latin America’s largest economy.
The smaller trade surplus stems directly from a weak global economy, said Tatiana Prazeres, the ministry’s secretary for foreign trade.
Exports totaled $242.5 billion, a drop of 5.3 percent, while imports declined 1.4 percent to $223.1 billion, the ministry said.
Exports to China -- Brazil’s top trade partner -- fell seven percent.
Brazil’s economy had been sizzling for six years through 2010, with average growth of 4.5 percent.