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UPDATE 1-Brazil trade deficit narrows less than expected in February
March 1, 2013 / 6:36 PM / 5 years ago

UPDATE 1-Brazil trade deficit narrows less than expected in February

* Trade deficit narrows to $1.2 bln after record in January

* Imports surge 8.8 pct from previous year, exports fall

BRASILIA, March 1 (Reuters) - Brazil posted a larger-than-expected trade deficit in February as imports surged to a record high for the month, government data showed on Friday.

Brazil posted a trade deficit of $1.276 billion in February, the trade ministry said on Friday. It had posted a deficit of $4 billion in January, the largest on record.

The February result was wider than expectations of a $500 million deficit, according to the median forecast of 13 analysts surveyed by Reuters.

Exports in February fell 8.9 percent versus the same month in 2012 while imports rose 8.8 to $16.827 billion. The average of $934.8 million worth of imports per day was the largest for the month on record, the ministry said.

Brazil’s trade deficit in the first two months of the year amounted to $5.312 billion. Analysts expect a surplus of $15.2 billion for the full year of 2013, according to the median forecast in a weekly central bank poll.

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