Brazil $4.1 billion trade surplus is biggest for August in 10 years

Trucks loaded with soybeans line up at Port of Santos in Santos

BRASILIA (Reuters) – Brazil recorded a trade surplus of $4.140 billion in August, government data showed on Thursday, the biggest for that month in 10 years.

The result was slightly below market expectations for a surplus of $4.2 billion, according to a Reuters poll.

Exports totaled $16.989 billion and imports $12.849 billion.

Economists in a weekly central bank poll expect a trade surplus of $50 billion in 2016, more than double last year’s result after a severe recession curbed demand for imports.

A steady inflow of foreign capital has helped the Brazilian real <BRL=> strengthen more than 20 percent so far this year.

(Reporting by Marcela Ayres Writing by Silvio Cascione; Editing by G Crosse and James Dalgleish)