Brasília - With the latest trade numbers showing the surplus at over US$20 billion, the market has raised its estimates for the year-end surplus to US$30 billion, according to this week's Central Bank survey (Focus).

Between January and August 15, total exports reached US$56.4 billion, with the average daily value up 39%, compared to the same period last year. Imports reached US$36.2 billion, up over 31%.

The surprisingly good results have led minister of Development, Luiz Fernando Furlan, to ante up his forecast for year-end exports, from US$88 billion to US$90 billion, and place his own bet on a final year-end trade surplus totalling US$30 billion.

For a number of years, Brazil has been trying to reach annual exports of US$100 billion.

Agência Brasil
Reporter: Daniel Lima
Translator: Allen Bennett
08/17/2004