Brazil April trade surplus dips 3.3%, in line with expectations

BRASILIA, May 7 (Reuters) - Brazil's trade surplus dipped slightly by 3.3% in April from a year earlier, official data showed on Wednesday, but came in broadly in line with market expectations.

The trade surplus for Latin America's largest economy totaled $8.2 billion, compared with a forecast of $8.3 billion in a Reuters poll. In the same month last year, the surplus was $8.4 billion.

According to the Ministry of Development, Industry, Trade and Services, exports rose 0.3% in the month to $30.4 billion, as lower prices for soybeans, crude oil and iron ore offset higher export volumes.

Coffee stood out as a bright spot, with shipments jumping 36.3% from April 2024, supported by a doubling in prices over the period that more than compensated falling volumes.

On the import side, purchases from abroad rose 1.6% from a year earlier to $22.3 billion.

Year to date, the trade surplus has dropped 34.2% to $17.7 billion, dragged down by rising imports amid resilient domestic demand, while exports have remained largely flat.