Brazil's May trade surplus lands below expectations as import growth persists

BRASILIA (Reuters) -Brazil posted a smaller-than-expected trade surplus in May, government data showed on Thursday, as imports continued to show strong momentum.

The monthly surplus fell 12.8% from a year earlier to $7.2 billion, missing the $8.3 billion forecast in a Reuters poll of economists.

Amid resilient economic activity in Latin America's largest economy, imports rose 4.7% to $22.9 billion, driven by higher volumes which offset lower prices.

Exports, meanwhile, ticked down 0.1% year-over-year to $30.2 billion, according to data from the Ministry of Development, Industry, Trade and Services.

A drop in commodity prices weighed on Brazil's main export products, including soybeans, oil and iron ore, undermining gains in shipped volumes.

Year-to-date, Brazil's trade surplus has plunged 30.6% from the same period in 2024 to $24.4 billion, reflecting a growing import trend and a slight decline in exports.

(Reporting by Marcela Ayres; Editing by Kylie Madry)

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