LatinNews Daily - 04 March 2022

In brief: Brazil records strong trade surplus in February

* The secretariat of foreign trade (Secex) in Brazil’s economy ministry has released the latest figures on trade, which show that Brazil recorded a US$4.05bn trade surplus in February. This represents a 108.9% increase on the trade surplus recorded in February 2021, is the highest figure for the month since 2017, and the second highest since current records began in 1989. Both exports and imports reached record levels, totalling US$22.91bn and US$17.9bn, respectively. Overall trade flows in February therefore also reached a new record, totalling US$41.78bn, up 28% on a year earlier. The undersecretary for intelligence and statistics, Herlon Brandão, notes that an increase in the volume of sales underpinned the performance of exports, while imports grew in value, due to higher prices of imported goods, but dropped in volume. Brazil’s February trade flows do not reflect the impact of the war between Russia and Ukraine, which started on 24 February. Brandão notes that it is currently difficult to give an accurate estimate of the war’s impact on Brazil’s foreign trade as “uncertainty is very high”.  

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