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LatinNews Daily - 02 July 2020

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In brief: Falling imports drive trade surplus in Brazil

* Brazil has recorded its highest trade surplus for the month of June since the historical series began in 1989, as a strong US dollar and the economic crisis caused by the coronavirus (Covid-19) pandemic have led to a particularly sharp fall in imports. Brazil’s trade balance saw a positive result of US$7.46bn in June, with the value of exports totalling US$17.91bn (down 12% on June 2019), while imports totalled US$10.45bn (down 27.4% on June 2019). The economy ministry has now revised its trade projections for 2020, expecting the overall trade balance this year to be lower than was forecast in April (US$349.6bn, down from US$353bn), but now forecasting a higher surplus, of US$55.4bn (up from US$46.6bn in the previous forecast).