Exports push Brazil trade surplus to a record

Exports push Brazil trade surplus to a record

Brazil's monthly trade balance reported a record high surplus in April due to the booming commodities and manufacturing exports, said the Brazilian government. The country's trade surplus amounted to $3.88 billion in April, up from $1.96 billion in April 2004. Exports jumped 39.6% year on year to $9.2 billion last month while imports rose 15% to $5.33 billion. Exports of sugar, steel, cotton, soybeans, beef and iron ore pushed the overall exports higher. Manufactured goods were also sold well, led by communications equipment, plastics and vehicles. A recent central bank survey of economists indicates that Brazil should post a $34 billion trade surplus this year, up slightly from a surplus of $33.7 billion in 2004.