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LatinNews Daily - 05 January 2021

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In brief: Brazil posts solid trade surplus for 2020

* Brazil’s economy ministry has released the latest balance of trade figures, which show the country posted a US$42m trade deficit in December 2020. Despite the negative December result, the country posted a US$50.99bn trade surplus overall in 2020, a 7% increase on the surplus posted in 2019. The overall balance of trade decreased compared with 2019, however, as a result of the coronavirus (Covid-19) pandemic, with imports in 2020 totalling US$158.93bn – a 9.7% decrease on 2019 – and exports totalling US$209.92bn (-6.1%). Exports in the agriculture and livestock sector grew 6% last year, while exports in the extractive industry and in the processing industry fell by 2.7% and 11.3%, respectively. The economy ministry expects exports to grow 5.8% in 2021 compared with last year, and imports to grow 5.3%, with forecasts for a US$53bn trade surplus.