Brazil trade surplus hits $8.78 billion in November, below estimates

BY Reuters | ECONOMIC | 12/01/23 01:36 PM EST

BRASILIA, Dec 1 (Reuters) - Brazil posted a trade surplus of $8.78 billion in November, government data showed on Friday, below a forecast of economists polled by Reuters.

The surplus, an increase of 41.5% compared with the same month last year, was driven by a 11.2% drop in the value of imports, which landed at $19.04 billion.

Exports in the month rose 0.6% to $27.82 billion.

Economists polled by Reuters had expected a surplus of $9.0 billion.

Year-to-date, Brazil's trade surplus was up 56% compared with the same period of 2022, reaching $89.29 billion. (Reporting by Bernardo Caram; Editing by Kylie Madry)

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