BRASILIA, June 1 (Reuters) - Brazil posted a $11.4 billion trade surplus in May, marking a record for any given month since the data series began in 1989, official data showed on Thursday.
The figure also came above the $9 billion surplus expected in a Reuters poll with economists, backed by a surge in the volume of exports that more than offset price drops.
Herlon Brandao, the director of Foreign Trade Intelligence and Statistics at the ministry, attributed the significant boost in Brazilian exports to the country's record-breaking agricultural harvest, with robust soybean shipments.
From January to May, the positive balance of trade soared by 39.1% compared to the same period last year, reaching $35.3 billion.
Following the ministry's initial projection for a $84 billion trade surplus this year, Brandao said that the figure is expected to be changed in the upcoming review in July, considering more favorable export prospects.
Persons:
Herlon Brandao, Brandao, Marcela Ayres, Aurora Ellis
Organizations:
Ministry of Development, Industry, Trade, Services, Foreign Trade Intelligence, Statistics, Thomson
Locations:
BRASILIA, Brazil