Itaú BBA - $6.4 billion trade surplus in May

Macro Brazil

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$6.4 billion trade surplus in May

junio 3, 2019

Stronger exports and imports in May. Trade surplus reaches $ 6.4 billion.

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

 The trade surplus reached $6.4 billion in May, printing close to our forecast and market consensus ($6.2 billion and $6.5 billion, respectively). The seasonally-adjusted annualized quarterly moving average retreated to $51 billion from $56 billion in April, while the surplus over 12 months remained virtually stable at $58 billion. 
 

Thales Caramella
 

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



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