Listen to this article


Its economy might be in tatters, and corruption scandals seem to hit a new sector every week, but Brazil is proving there is a silver lining to be found in every crisis.

Latin America’s biggest economy logged a trade surplus of $7.14bn in March – the biggest monthly gain recorded since records began in 1980 – as a weaker currency helped power agricultural exports, and a two-year recession continues to weigh on local demand for foreign goods and imports.

The record surplus comes despite a number of countries briefly banning Brazilian meat imports amid ongoing investigations into allegations of corruption between health inspectors and the operators of regional plants.

Imports edged up slightly to $12.9bn in March from $10.9bn the month before. However, that gain is dwarfed by the surge in exports, which totalled $20.1bn last month, compared to the $15.47bn recorded in February and up from $16bn posted in the prior-year period.

Copyright The Financial Times Limited 2017. All rights reserved.

Follow the topics mentioned in this article

Follow the authors of this article

Comments have not been enabled for this article.