(MENAFN) Data showed that Brazil posted a USD2.35 billion trade deficit in November, marking the country's worst monthly results in 20 years and slipping into the red after decades of surplus, AFP reported.
The deficit for the year to date stands at USD4.2 billion, the worst showing since 1998, while November's monthly deficit was 15 times worse than last year's, the ministry of trade said.
Total imports in November were just under USD18 billion, surpassing exports of USD15.6 billion, while last year Brazil posted a surplus of USD2.6 billion, the ministry said in a statement.
Although GDP raced ahead 7.5 percent in 2010, growth fell back to 2.7 percent the following year, hit just 1.0 percent in 2012 and then rose to 2.5 percent in 2013.
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