MercoPress. South Atlantic News Agency

Brazil posted a trade surplus of US$ 51 billion in 2020. Overall trade down 7,7%

Latin America’s largest economy exported goods worth US$ 209.9 billion last year, down from US$ 225.4 billion the year before, the Economy Ministry said

Brazil posted a US$ 51 billion trade surplus last year, official figures showed on Monday, a 6% increase from the year before as the COVID-19 pandemic hit imports harder than exports.

Latin America’s largest economy exported goods worth US$ 209.9 billion last year, down from US$ 225.4 billion the year before, the Economy Ministry said on Monday, adding that imports fell to US$ 158.9 billion from US$ 177.3 billion.

Total trade volume last year fell 7.7% on a daily average basis, but the annual surplus widened 6% from US$ 48.1 billion recorded in 2019, the figures showed.

Agriculture exports rose 6% to US$ 45.3 billion last year, while mining industry exports fell to US$ 48.8 billion and exports of manufactured goods fell 11% to US$ 115 billion, the ministry said.

Exports to Asia rose 7% to US$ 99.2 billion, accounting for almost half of all exports, while exports to North America and elsewhere in South America each slumped by around a fifth to US$ 29.5 billion and US$ 22.7 billion, respectively

Imports from Asia last year fell 5% to US$ 55.8 billion, the figures showed, while imports from North and South America slumped by almost a fifth and imports from Europe fell 14%.

For the month of December, Brazil posted a US$ 42 million trade deficit, on exports of US$ 18.365 billion and imports of US$ 18.407 billion. The Economy Ministry said it expects a trade surplus next year of US$ 53 billion.