Brazil’s trade surplus hit record thanks to exports
Brazil's Trade and Development Minister Luiz Furlan disclosed that the country's foreign trade surplus hit to an all-time high of $44.8 billion in 2005.
Latin America's largest economy had record exports of $118.3 billion in 2005 as expanding world economy pushed up demand for the country's goods such as
iron ore, agricultural products and automobiles.
Imports also rose to a record $73.5 billion in 2005 from $62.8 billion in 2004.
In December alone,
Brazil's trade surplus widened to its highest in five months, increasing to $4.4 billion.
Exports rose 1 percent month on month to $10.9 billion in December. On the other hand, imports fell from $6.7 billion in November to $6.55 billion in December.