Brazil Trade Surplus Narrows in July
Brazil posted a trade surplus of $1.575 billion in July, down from $2.364 billion reported a month earlier but above market estimates.
On a year exports increased 10.7 percent to $23.03 billion. Crude oil shipments surged 276 percent as six of the seven oil companies in Brazil reported growth in production. Also, there was 77.2 percent increase in coffee seeds exports.
On a year imports declined 2.2 percent to $21.45 billion with capital goods falling 11.2 percent.
The fifth straight month of surplus was not enough to reverse an accumulated trade deficit of $916 million this year.
8/4/2014 6:12:27 PM