Brasília, 23 (Agência Brasil - ABr) - Brazil now has a foreign trade surplus of US$903 million for the first three weeks of July, with exports at US$4.095 billion, and imports at US$3.192 billion. That works out to a daily average for exports of US$273 million, up 21% over the average for the same period last year. It is the first time 2002 exports are higher than they were in 2001.

Meanwhile, imports during the third week of July were down 3.6%, compared with the same period last year.

According to Ivan Ramalho, deputy secretary of Foreign Trade at the Ministry of Development, Brazilian exporters have overcome the "Argentina effect." Because of the crisis next door, Brazilian exports to Argentina have plummeted over 66% in the first half of this year. (AB)