Itaú BBA - $6.1 billion trade surplus in October

Macro Brazil

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$6.1 billion trade surplus in October

November 1, 2018

October figures showed a wider trade surplus at the margin.


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

The trade surplus reached $6.1 billion in October, close to our estimate ($6.3 billion) but below market consensus ($6.7 billion). Stronger exports of crude oil and soybeans boosted the monthly result. Over 12 months, the trade surplus advanced to $57 billion from $56 billion, while the seasonally-adjusted annualized quarterly moving average climbed to $61 billion from $51 billion in September.
 

Julia Gottlieb
Thales Caramella

 

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



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