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Brazil sees worst quarterly trade deficit in two decades

Posted on Apr 02 2014 | IANS

Brasilia, April 2 : Brazil registered a trade deficit of USD 6.07 billion in the first quarter of the year, the largest since 1994, authorities have said.

The Ministry of Development, Industry and Foreign Trade said Tuesday that the figure is 15 percent higher than that of last year, which amounted to USD 5.15 billion, reports Xinhua.

In the first three months of 2014, exports added up to USD 44.58 billion, while imports amounted to USD 55.66 billion.

The fall in exports was blamed on a sharp cutback in foreign sales of Brazilian-made goods and semi-manufactured products.

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