LatinNews Daily - 04 November 2021

In brief: Brazil’s October trade surplus at lowest level since 2015

* Brazil’s economy ministry has released the latest balance of trade figures which show that the country recorded a US$2bn trade surplus in October, representing a 54.5% decrease on the same month last year. Despite Brazil posting record exports, this is the lowest surplus recorded in October since 2015, with rising imports coinciding with a deceleration of export growth due to droughts and frosts affecting agriculture and an ongoing suspension of beef exports to China. Imports increased by 54.9% year-on-year in October, amounting to US$20.51bn, and exports increased by 27.6% to US$22.51bn. From January to October, Brazil registered a US$58.57bn trade surplus, a 29.6% increase on the same period last year. Exports for the first ten months of 2021 totalled US$235.8bn, and imports US$177.29bn.

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