Brazil trade surplus shrinks 20% in 2019 to its smallest in four years

Brazil’s trade surplus shrank 20% to $46.67 billion last year, the smallest since 2015 ($19.5 billion), amid one of the most severe recessions in the country’s history. According to data released by the Economy Ministry total exports in 2019 were $224 billion and imports were $177.3 billion. Trade Secretary Lucas Ferraz said that surplus in 2020 could be even smaller, as strengthening domestic demand lifts overall economic growth to around 2.3% and spurs imports more than exports.

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Source: Reuters