Brazil's trade surplus falls 13% in November, nearly in line with estimates

Brazil's trade surplus fell 13.4% in November compared to the same month last year, reaching $5.8 billion, close to economists' estimates of $5.7 billion. Imports rose 7.4% year-over-year, outpacing the 2.4% export growth. Exports were driven by higher sales of iron ore, soybeans, beef, and coffee, while imports increased due to oil fuels, non-electric machines, auto vehicles, and medicines. The year-to-date trade surplus is $57.8 billion, down 16.8% from 2024. Brazil's economy also slowed more than expected in Q3, raising expectations of easing early next year.