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🌏 Brazil's trade surplus hides an $18bn capital exodus

🌏 Brazil's trade surplus hides an $18bn capital exodus

Brazil's financial account swung from a +$9.13bn inflow in February to roughly βˆ’$18bn by July, even as the trade surplus tops $34bn. South African manufacturing fell βˆ’4.3% year-over-year while Indian money supply growth accelerated to 13.0%.

Table of manufacturing production (y/y change) as at 31 May 2026 with sector weights and growth rates.
South Africa's manufacturing production contracted 4.3% year-on-year in May, led by sharp declines in food and beverages and metals sectors. Source

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