Brazil Upgrades 2007 Foreign Trade Forecast from US$ 152 to US$ 155 Billion

Exports from Brazil Brazilian exports broke a monthly record in July. Sales totaled US$ 14.12 billion. Imports also presented the best result since the figures started being recorded, at US$ 10.773 billion, resulting in a trade surplus of US$ 3.347 billion.

The trade balance result in July caused the government to increase its foreign trade forecasts for this year: from US$ 152 billion to US$ 155 billion.

The new target was disclosed yesterday, August 1st, by the Ministry of Development, Industry and Foreign Trade. According to the Foreign Trade secretary at the ministry, Armando Meziat, the figure was changed as, in the accumulated result for the last 12 months, exports have already exceeded US$ 150 billion, which is very close to the former target for this year.

"As the growth of sales is a little greater than expected, it was natural for us to increase the target a little," he explained.

The previous forecast was for 10.0% growth in Brazilian foreign trade this year, but it has now been raised to 12.5%. However, the forecast is still lower than the 17.2% registered from January to July this year, as against the same period last year.

"The rhythm of growth of exports in the second half should be a little lower," explained Meziat.

From January to July, Brazil exported the equivalent to US$ 87.334 billion and imported US$ 63.349 billion, resulting in a trade balance surplus of US$ 23.985 billion.

In the accumulated result for the last 12 months, the trade balance surplus has already reached US$ 45.23 billion, practically the same as the US$ 45.339 billion registered in the same period last year.

ABr

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