BRASILIA--Brazil registered a narrower trade surplus in 2012 as weak global economic growth reduced demand for the country's products abroad.
Brazil's trade surplus fell to $19.44 billion in 2012 compared with a surplus of $29.79 billion in 2011, the Ministry of Development, Industry and Foreign Trade said Wednesday.
Latin America's largest economy saw trade undermined by the European debt crisis and global economic slowdown, which sapped demand for locally produced goods from Brazil's largest trading partners and reduced prices for the country's commodities.
The real currency also started 2012 at its strongest levels of the year, attracting a flood of cheap manufactured goods.
Brazil's government intervened in local currency markets and implemented capital controls that caused the real to weaken from BRL1.70 per U.S. dollar to a stable trading range between BRL2.00 and BRL2.10 by the end of 2012.
Brazil had exports of $243 billion in 2012, down from $256 billion the previous year. Imports fell to $223 billion from $226 billion in 2011.
For the month of December, Brazil recorded a trade surplus of $2.25 billion after registering a deficit of $186 million in November.
nasdaq.com
Brazil's trade surplus fell to $19.44 billion in 2012 compared with a surplus of $29.79 billion in 2011, the Ministry of Development, Industry and Foreign Trade said Wednesday.
Latin America's largest economy saw trade undermined by the European debt crisis and global economic slowdown, which sapped demand for locally produced goods from Brazil's largest trading partners and reduced prices for the country's commodities.
The real currency also started 2012 at its strongest levels of the year, attracting a flood of cheap manufactured goods.
Brazil's government intervened in local currency markets and implemented capital controls that caused the real to weaken from BRL1.70 per U.S. dollar to a stable trading range between BRL2.00 and BRL2.10 by the end of 2012.
Brazil had exports of $243 billion in 2012, down from $256 billion the previous year. Imports fell to $223 billion from $226 billion in 2011.
For the month of December, Brazil recorded a trade surplus of $2.25 billion after registering a deficit of $186 million in November.
nasdaq.com
No comments:
Post a Comment