Nevertheless, foreign direct investment continues to more than cover the deficit, totaling $5.97 billion in July compared to $5.5 billion in June.
Brazil’s trade gap widens $0.2 billion in July
Brazil's central bank reported Tuesday that the trade gap in the country widened to $3.5 billion in July compared to $3.2 billion in June due to higher rate of imports, but higher prices in niche Brazilian export products such as iron ore helped to offset more imports arriving into the country.
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