Brazil may trade surplus widens, but bigger picture not as rosy

BRASILIA (Reuters) – Brazil’s trade surplus widened in May to $6.42 billion, the Economy Ministry said on Monday, its biggest so far this year and driven by a 5.6% rise in exports from the month before.

Exports totaled $21.39 billion while imports totaled $14.97 billion, with the surplus in May bringing the year-to-date surplus up to $22.81 billion.

The biggest increase in exports compared with the same month last year was in manufactured products, which rose by 29.5%, and semi-manufactured goods, which were up 15.4%, the Economy Ministry said.