Brazil Posts Trade Deficit in November
Brazil posted an unexpected trade deficit of $186 million in November, the Trade Ministry said on December 3rd.
Exports fell to $20.5 billion from $21.8 billion in October. Imports rose to $20.7 billion, from $20.1 billion.
Exports of Brazilian ethanol, sugar and iron ore slumped in November compared with October, although corn exports rose to 3.91 million tonnes from 3.66 million tonnes in October on strong demand.
Weak global demand has dragged on the world's sixth-largest economy over the past year. The government has intervened in currency markets to prevent Brazil's currency, the real, from strengthening, but that has not boosted exports so far.
Brazil's trade surplus from January through November fell 33.9 percent from the same period a year ago to $17.185 billion.
12/11/2012 4:09:20 PM