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LatinNews Daily - 04 October 2021

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In brief: Strong imports shrink Brazil’s trade surplus

* Brazil’s economy ministry has released the latest figures on the country’s balance of trade, which show that Brazil recorded a US$4.32bn trade surplus in September, a 15% decrease on the trade surplus recorded a year earlier. This is due to a 51.9% increase in imports to US$19.96bn, while exports grew 33.3% year-on-year to US$24.28bn. Over the period January-September 2021, Brazil recorded a US$56.4bn trade surplus, a 38.3% increase on the trade surplus recorded over the same period last year. Exports for the first nine months of this year totalled US$213.9bn, and imports, US$156.8bn. Exports for 2021 are projected to total US$281bn, down from earlier projections of US$307.5bn, but still a record. Meanwhile, forecasts for total imports for this year have been revised up to US$210bn; Brazil is therefore now expected to record a US$70.9bn trade surplus this year, down from previous projections of US$105.3bn.