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LatinNews Daily - 02 March 2021

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In brief: Brazil sees small trade surplus in February

* The secretariat of foreign trade (Secex) in Brazil’s economy ministry has released trade figures for February, which show the country saw a US$1.152bn trade surplus in the second month of this year. This is 50.4% lower than the trade surplus recorded in February 2020, and the lowest figure for the month of February since 2014. However, it recoups the US$1.125bn trade deficit of January, leaving Brazil with a US$27m trade surplus in the first two months of the year – the weakest performance since 2001. Overall, Brazil’s balance of trade totalled US$31.1bn in February, with exports growing 3.9% on last year to US$16.18bn, and imports increasing 13.4% to US$15.03bn. The Secex notes that the nationalisation of oil platforms, to the tune of US$1.4bn in February, slightly distorted import figures (as operations which used to qualify as exports now fall under imports).