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LatinNews Daily - 05 November
In brief: Brazil’s trade surplus hits five-year low
* Brazil’s economy ministry has reported a US$1.2bn surplus for October. This is 79.2% lower than the trade surplus posted in October 2018 and the lowest figure for the month for the past five years. According to a ministerial report the worsening of the trade balance was driven by a 20.4% year-on-year fall in exports during the month to US$18.23bn, which was attributed to the lower demand in crisis-hit Argentina as well as China, respectively Brazil’s main trading partners in the Southern Common Market (Mercosur) and globally. In contrast, imports increased by 1.1% to US$17bn, a sign that domestic consumption is starting to pick up. The accumulated trade balance for the year now stands at a US$34.8bn surplus, 26.7% lower than in the same period in 2018 and the lowest surplus since 2015. Exports between January and October have fallen by 7.7% to US$185.43bn while imports have fallen by 1.5% to US$150.61bn.
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