Itaú BBA - Exports and imports fall at the margin

Macro Brazil

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Exports and imports fall at the margin

July 1, 2019

In sum, June figures showed a lower trade balance at the margin, although the year-to-date reading remains high.


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

The trade surplus reached $5.0 billion in June, printing somewhat below our forecast and market consensus ($5.5 billion and $5.4 billion, respectively). The seasonally-adjusted annualized quarterly moving average advanced to $52.3 billion in June from $51.9 billion in May, while the surplus over 12 months receded to $56.7 billion from $57.5 billion.


Thales Caramella


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



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