The trade balance for May 2023 closed with a positive balance of $9.719 billion, in contrast to the positive balance of $3.368 billion recorded in May 2022.
In April, the IMF cut the predicted increase in the Brazilian economy to 0.9% in 2023, below the world average as well as the average for Latin America and the Caribbean. In January, the prediction was 1.2%.
Compared to the first quarter of last year, the GDP is up 4 percent. In the 12-month period, the surge stood at 3.3 percent, government´s statistic agency IBGE reported on Thursday (Jun. 1).
The expansion was driven by increases in services and industry, which added up to about 90 percent of the indicator. On the other hand, farming and livestock saw a decline.
The expansion of the balance is the result of operations with public debt securities (up 1.4%), SFN loans (1.1%) and foreign debt loans (1.9%, due to the exchange rate depreciation).
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