July 1, 2014 / 5:05 PM / 4 years ago

Brazil posts trade surplus of $2.365 bln in June

BRASILIA, July 1 (Reuters) - Brazil posted a trade surplus of $2.365 billion in June, the highest result this year, government data showed on Tuesday.

Still the hefty surplus was not enough to revert an accumulated trade deficit of $2.490 billion this year.

The median forecast of 14 analysts surveyed by Reuters was of a surplus of $2.85 billion in June. The country posted a surplus of $712 million in May.

The surplus was the highest since the $2.652 billion recorded in December of 2013.

Brazil’s trade balance has been hit hard by rising fuel imports and a drop in the price of some key exports such as iron ore. A drop in exports to neighboring Argentina has also shrank Brazil’s trade surplus over the last year. (Reporting by Alonso Soto; Editing by Chizu Nomiyama)

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