Brazil’s exports jumped 18% in November, the fastest rate since November 2011, resulting in a trade surplus 59% higher than that expected by economists. This was the result of higher fuel and sugar shipments according to official reports. A 6% decline in the real vs. the dollar didn’t help volumes shipped – Panjiva data shows shipments to the U.S. fell 4% – but there was an rise in sales of higher value products. Increased agricultural shipments to China also supported the growth.
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