Brazil trade surplus widens 5.6%
Brazil’s trade surplus widened to $3.54 billion in August as both imports and exports grew.
A poll of leading economist had predicted that the trade surplus would increase by $3.1 billion, but the economy outperformed forecasts, despite the concerns caused by the US sub-prime crisis.
The Trade Ministry figures show that exports and imports rose to a record $15.1 billion and $11.6 billion last month respectively from $14.1 billion and $10.8 billion in July.
Reginaldo Galhardo, currency director of Sao Paulo brokerage Treviso Corretora, told Bloomberg that the growing economy should help protect the real from any shock, although it has fallen in the last month.
He said: "The outlook is for inflows to stay strong this year, protecting the real from external shocks."
The trade surplus in 2006 stood at $46.08 billion.
