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LatinNews Daily - 6 December 2024

In brief: Brazil’s trade surplus down year-on-year

*Brazil’s ministry of development, industry, trade, and services (MDIC) has released the trade figures for November, showing a monthly surplus of US$7.03bn, down 20% from November last year. This made November the seventh consecutive month to register a yearly drop in the trade surplus. The total export value in November came to US$28.02bn, up 0.5% year-on-year, while the monthly import value stood at US$20.99bn, up 9.9% in yearly terms. The export value for extractive industries and manufacturing registered yearly increases of 1.6% and 10.5% respectively, while the value of Brazil’s agricultural exports in November was down 25.2% from November 2023. Regarding Brazil’s top export destinations, exports to the US and Argentina saw yearly rises of 7.1% and 30.9% respectively, while exports to China, Hong Kong, and Macau were down 31.3%.

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