Portugal recorded a negative balance of US$183.2 million in trade with Brazil in the first quarter of this year, indicate figures released in Brasilia by Brazil’s Ministry for Development, Industry and Trade.

During that period Portugal exported products worth US$250.7 million to the Brazilian market, 26.7% more than in 1Q 2011, and imported goods worth US$433.9 million from Brazil, about the same as the figure for the previous year.

In March, Portugal sold Brazil merchandise worth US$72.5 million, the lowest monthly figure in 2012 and also below the US$96.8 million exported in March 2011. It imported goods worth US$165.4 million from the Brazilian market, 17.6% less than in February but more than the US$114 million recorded in March 2011.

Portugal and Brazil recorded trade of nearly US$2.9 billion in 2011, with a balance favourable to Brazil of US$1.2 billion. (macauhub)