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Brazil posts $1.8 billion surplus

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Staff Writer | May 22, 2017
Brazil registered a $1.824 billion trade surplus in the third week of May, the Ministry of Industry, Foreign Trade and Services reported.
LatAm   Average daily exports were up 3.3%
Exports reached $4.758 billion and imports came out to $2.933 billion.

Average daily exports were up 3.3% and imports were up 0.4% compared with the week before.

The month-to-date surplus in May is $4.858 billion, the result of $13.049 billion in exports and $8.195 billion in imports.

Year-to-date exports reached $81.189 billion and imports stood at $54.964 billion, leading to a $26.225 billion trade surplus.

The financial market revised down its forecast for this year’s inflation rate for the 11th consecutive time.

The estimative for the Extended National Consumer Price Index (IPCA) went from 3.93% to 3.92%, according to the Focus Bulletin, a weekly survey conducted every week by the Brazilian Central Bank (BC).

The forecast for this year’s inflation rate stands below the center of the target of 4.5%. The target ranges from 3% to 6%. For 2018, the estimative declined from 4.36% to 4.34%, the second consecutive decline.

The forecast made by financial institutions for the economy’s growth stood at 0.50% this year and 2.50% in 2018. According to them, the Selic, the benchmark interest rates, will end 2017 and 2018 at 8.5% per year.