November 3, 2015 / 5:06 PM / 2 years ago

Brazil's October trade surplus tops estimates at $1.996 bln

BRASILIA, Nov 3 (Reuters) - Brazil posted a trade surplus of $1.996 billion in October, trade ministry data showed on Tuesday, its eighth straight positive monthly result as imports plunge due to a deepening recession in Latin America’s top economy.

The latest surplus was above market estimates for a surplus of $1.16 billion.

A crippling recession and a weaker local currency have dragged down demand for imports in Brazil while improving conditions for local exporters.

So far this year Brazil has an accumulated trade surplus of $12.244 billion, on track to revert the deficit it recorded last year. (Reporting by Cezar Raizer; Writing by Silvio Cascione; Editing by Chizu Nomiyama)

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