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LatinNews Daily - 02 December 2021

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In brief: Brazil records trade deficit in November

* Brazil’s economy ministry has released the latest figures on the balance of trade, which show that the country recorded a trade deficit in November, the first monthly trade deficit this year since January. Exports totalled US$20.3bn in November (down from US$22.5bn in October), while imports totalled a record US$21.6bn (up from US$20.5bn a month earlier), leaving a US$1.3bn deficit. The government has sought to highlight that total trade flows reached near-record levels, totalling US$41.9bn, and that the increase in imports was driven by higher prices. Despite having recorded a deficit in November, Brazil’s overall trade balance has a US$57.19bn surplus over January-November 2021, a 20.5% increase on the surplus posted over the same period last year.