MercoPress. South Atlantic News Agency

Record export and trade surplus in Brazil

Brazil achieved a record 4,03 billion US dollars trade surplus in June, bringing its total surplus so far for the year to 19,67 billion, the government announced Friday.

The June figure is not only a record monthly surplus, but also represents the first time that the country's exports exceeded 10 billion US dollars in a single month, according to data from the Development, Industry and Trade Ministry.

The 19.67 billion surplus registered in the first six months of 2005 was 31.1% higher than that in the same period last year, and it came despite the Brazilian currency Real strong appreciation against US the dollar, which tends to reduce the competitiveness of Brazilian products, as experts and businessmen have noted.

The US dollar is currently trading at 2,33 Reales, the lowest in three years. At the beginning of the year the US dollar was at 2,70 Reales.

In 2004 Brazil registered a record 33,7 billion US dollars trade surplus and for this year, the Central Bank is expecting a surplus of some 30 billion, while financial market analysts are predicting a surplus of 35 billion.