Economics
Brazil Exports Hit Record High in March on Commodity Prices, War
- Exports jump almost 20% last month while imports post 22% gain
- Forecast for 2022 marked up, $112 billion trade surplus seen
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Brazil posted record monthly exports and imports in March on the back of a surge in global commodity prices fueled by the Russian invasion of the Ukraine.
Exports rose almost 20% from the same month a year ago to $29.1 billion, a record for the data series that goes back to 1959, the Economy Ministry reported Friday. Imports increased 22% from March 2021, to a total of $21.7 billion, a record high for the month of March. The results are largely due to a 17.2% increase in prices for all items of the trade balance in the period, the ministry said.