São Paulo,7/2/2004(Agência Brasil) - June was a very good month for Brazilian foreign trade. The country broke three records: US$43.3 billion in first half exports; US$9.327 billion in exports for the month of June; and a June trade surplus of US$ 3.81 billion.

According to minister of Development, Industry and Foreign Trade, Luiz Fernando Furlan, first half exports have risen over 29% this year, compared to last year, and the surplus for the period was more than US$15 billion, an increase of almost 50% over the same period last year (when the surplus was US$10.4 billion).

Meanwhile, imports during the first half reached US$28.257 billion, up 23% over the same period last year.

"A number of factors have given our exports a boost. We are both exporting more and opening new markets. At the same time we are further diversifying the goods we ship abroad. And, finally, we have had good prices on international markets," explained the minister.

The situation was so favorable that Furlan said the forecasts for year-end total exports and the trade surplus were being revised upwards. He said the government was now working with total exports of US$88 billion (up from US$83 billion), and a surplus of US$28 billion.

According to Furlan, the strong export performance was "concrete proof of Brazilian economic growth and improved competitivity." The minister added that the surge in imports was a clear sign of rising domestic demand.

Furlan concluded by saying that the numbers showed that government efforts were bearing fruit. He pointed out that 245 export promotion events took place around the world this year with 4,901 Brazilian firms exhibiting their goods. Another 105 export fairs are scheduled between now and the end of the year. It is expected that the export fairs and events will generate a total of US$1.7 billion in business by December.

The minister also announced that an invitation will be extended to the new government of Iraq inviting them to send a trade mission to Brazil. He said Brazil was ready to send one to Iraq.

(Translator: Allen Bennett)