A strengthening currency saw Brazilian exports growth slow to a three-year low last month and the country’s trade surplus narrow to $3.03 billion from $3.1 billion in April. Exports rose, year-on-year, by only 4.7% in May, compared with 6.5% in April. The Central Bank is forecasting export growth this year of only 8%, versus 23% last year. As the real continues to strengthen and interest rates fall, companies are looking to domestic growth to yield returns.
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