Brazil's trade surplus hit record thanks to exports

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.