Brazil recorded in March the largest monthly trade surplus since 1989

The Brazilian trade balance recorded a surplus of US$10.956 billion in March, the largest positive balance for any month in the historical series that began in 1989, the Ministry of Development, Industry, Trade, and Services reported Monday.

The figure represents an increase of 38.4 percent over the same month last year, when the surplus amounted to US$7.610 billion.

According to the report, exports were US$33.06 billion, and imports were US$22.104 billion.

In the first quarter, the Brazilian trade balance accumulated a positive result of US$16.068 billion, compared to US$12.180 billion in the same period last year.

In the first three months of this year, exports totaled US$76.432 billion and imported US$60.363 billion.

The Undersecretary of Foreign Trade Intelligence and Statistics, Herlon Brandao, told the local press that the substantial increase in the trade balance in March is related to the rise in soybean and oil exports.

According to the ministry, the trade balance should reach a surplus of US$84 billion this year, which, if confirmed, will be a new historical record.

Last year, the Brazilian trade balance recorded a positive balance of US$62.3 billion.

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