Brazil achieved a record US$ 4.03 billion trade surplus in June, bringing its total surplus so far for the year to US$ 19.67 billion, the Brazilian government announced.
The June figure is not only a record monthly surplus, but also represents the first time that the country’s exports exceeded US$ 10 billion in a single month, according to data from the Development, Industry and Trade Ministry.
The US$ 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 this result happened despite the Brazilian currency real strong appreciation against the US 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 reais, the lowest in three years. At the beginning of the year the US dollar was at 2.70 reais.
In 2004 Brazil registered a record US$ 33.7 billion trade surplus and for this year, the Central Bank is expecting a surplus of some US$ 30 billion, while financial market analysts are predicting a surplus of US$ 35 billion.
Mercopress – www.mercopress.com
Show Comments (0)