Brazil Posts US$3.1 Billion Trade Surplus in February, No Coronavirus Impact

Despite the surprisingly high surplus in February, trade is still expected to be a net drag on Brazil’s economy this year.

RIO DE JANEIRO, BRAZIL - (Reuters) Brazil posted a trade surplus of US$3.1 (R$13.8) billion in February, official data showed on Monday, far stronger than forecast and confounding any expectations that the coronavirus outbreak might have dampened exports.

February’s figure was double the median consensus forecast in a Reuters poll of economists of a US$1.5 billion surplus, a result of exports totaling US$16.4 billion and imports reaching US$13.3 billion.

Speaking to reporters in Brasilia, Herlon Brandão, undersecretary for foreign trade statistics, said any hit to Brazilian exports to No . . .

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