World Economy

Brazil Trade Deficit

Brazil Trade DeficitBrazil Trade Deficit

Brazil had a trade deficit of $3.17b in January, after posting a surplus of $293 million in December, the country’s trade ministry said, Nasdaq reported. Slow economic growth in many of Brazil’s trading partners, and a downturn in neighboring Argentina, are hurting sales of the country’s products abroad. Last year, Brazil had its first annual trade deficit in more than a decade, of $3.9b. In December the country had a trade surplus of $293 million. In the first four weeks of January, imports of steel and steel products increased 50.1% from December, while imports of electrical and electronic goods rose 26.6%, the trade ministry said. Imports of grains fell 41% in the first four weeks of January.