Brazil’s trade surplus more than doubled in July from a year ago fuelled by higher commodity prices in spite of the over-valued Super Real that is having an impact on manufactured goods exports and promotes the import of ‘cheap’ products.
Brazil’s Vale, the world’s largest iron ore producer, posted a record quarterly profit as mineral prices and sales of metals including copper and nickel surged. Net income increased to 6.83 billion USD from 1.6 billion, in the year-ago period, Vale announced Thursday in a regulatory filing.