Daniel Merli and Stênio Ribeiro
Reporters - Agência Brasil

Brasília - Over the last twelve months, Brazil exported US$ 39.875 billion more than it imported. This result, which constitutes the country's trade surplus, was announced yesterday (1) by the Ministry of Development, Industry, and Foreign Trade. To reach this level, the companies installed in the country exported US$ 108.914 billion between August, 2004, and July, 2005.

This is the best result ever achieved, breaking the previous record of US$ 30.809 billion, registered between August, 2003, and July, 2004. This year's surplus may thus surpass the forecasts of financial investors in the Focus Bulletin.

The Focus Bulletin is a weekly poll conducted by the Central Bank. The financial investors who were interviewed projected a US$ 37 billion trade surplus for 2005. If exports keep up their pace of the last twelve months, they may lift the year-end balance above this plateau.

Translation: David Silberstein