Brazil records first monthly trade deficit since 2022

SAO PAULO, March 7 (Reuters) - Brazil posted a surprising trade deficit in February, government data showed on Friday, its first monthly deficit in more than three years due to an oil vessel deal and lower prices of key commodities.

The South American nation reported an about-$300 million trade balance deficit last month, the Ministry for Development, Industry, Trade and Services said, from a $5.1 billion surplus a year earlier.

Economists polled by Reuters had estimated a surplus of $1.94 billion for the month.

The result marked Brazil's first monthly trade deficit since January 2022, and the largest negative figure since November 2021, when it posted a $1.1 billion deficit.

Imports in February jumped almost 28% year-on-year, to $23.3 billion, boosted by the purchase of an oil vessel platform coming from China for $2.7 billion.

Meanwhile, exports fell nearly 2% in the same period to $22.9 billion, driven mainly by lower prices and shipped volumes of soy, crude oil and iron ore.