Brazil'S Trade Deficit Hit A 8 Year High.

Brazil's Ministry of development, industry and foreign trade announced on the 2 day that Brazil's trade deficit reached 518 million US dollars in January this year, the biggest deficit in the past 8 years.

According to figures released by the Ministry of industry and trade, Brazil imported $10 billion 306 million in January this year and exports amounted to US $9 billion 788 million.

In the 21 effective working days, the average daily export volume was US $466 million 100 thousand and imports were US $490 million 800 thousand.

Compared with the same period last year, exports decreased by 22.8% and imports decreased by 12.6%.

Brazil has never had such a high trade deficit since March 2001, when the deficit was $274 million.

Brazil exports have declined rapidly in recent months, so that last week the government issued a protectionist measure for issuing licenses for imported products. However, under the pressure at home and abroad, the second day of the measure was withdrawn.

Yang Jing: editor in charge