* According to the latest trade figures released by the ministry for industry, foreign trade and services (MDIC), Brazil recorded a trade surplus of US$51.7bn in the 11 months up to November 2018. This is a 16.6% decrease on the trade surplus recorded between January and November 2017, although the value of exports and imports in 2018 already exceeds that of the whole of 2017. Exports totalled US$220bn in January-November 2018, while imports totalled US$168.3bn. Iron ore, soya, crude oil, and cellulose are some of the products that reached record levels of exports in both volume and value. The MDIC secretary for foreign trade, Abrão Neto, noted that Brazilian exports have become more competitive.
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