BRASILIA (Reuters) – Brazil’s trade surplus for February fell a larger-than-expected 35% from the same month last year as exports, especially of oil, declined, government data released on Wednesday showed.
The trade surplus of $2.8 billion was lower than the $3.1 billion estimated by economists in a Reuters poll.
The Ministry of Development, Industry, Trade and Services said exports totaled $20.6 billion in February, down 7.7% from the previous year, mainly due to a 12.3% decrease in sales volume, while prices declined 0.8%.
The ministry highlighted a 67.9% drop in exported crude oil to $1.2 billion. Sales of coffee and beef declined 44.3% and 27%, respectively.
Imports fell 0.9% from February 2022 to $17.7 billion.
(Reporting by Marcela Ayres; Editing by Richard Chang)
