Itaú BBA - $5.0 billion trade surplus in September

Macro Brazil

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$5.0 billion trade surplus in September

October 1, 2018

September figures showed some increase in the trade surplus at the margin.


For the version with all charts and tables, please open the attached pdf file 
 

The trade surplus reached $5.0 billion in September, disappointing our estimate ($5.7 billion) and market consensus ($5.8 billion). Over 12 months, the trade surplus remained stable at $57 billion, while the seasonally-adjusted annualized quarterly moving average climbed to $51 billion from $48 billion in August.
 

Julia Gottlieb
Thales Caramella

 

For the version with all charts and tables, please open the attached pdf file 
 



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