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LatinNews Daily - 04 August 2020
In brief: Brazil sees record trade surplus in July
* Brazil’s economy ministry has released the latest trade balance figures, according to which the country registered a US$8.1bn trade surplus in July – the largest surplus registered for that month since the historical series began in 1989. The trade balance totalled US$31.1bn, with exports totalling US$19.6bn and imports totalling US$11.5bn. This record trade surplus was driven by the strong performance of agricultural exports (due to strong demand from Asia and a weak real), coupled with a sharp decrease in imports (with a 7% drop in prices and a 27.7% drop in volume year-on-year) as a result of the coronavirus (Covid-19) pandemic. Exports dropped by 2.9% overall compared with July 2019, with prices decreasing by 14.7%, but volumes increasing by 13.4%.
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