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Brazil Expecting a 2005 Record Surplus of Over US$ 42 Billion |
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Written by Stênio Ribeiro
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Monday, 21 November 2005 |
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Brazil exported US$ 2.221 billion last week, 15.06% less than in the previous week, in consequence of last Tuesday's, November 15, Proclamação da República (Republic Proclamation) holiday.
The drop in imports, which totaled US$ 1.297 billion, was somewhat greater (-22.61%). These results produced a US$ 924 million surplus for the week and an average daily surplus of US$ 231 million.
With this increment, the trade surplus for the first twelve business days in November surged to US$ 2.752 billion surpassing the US$ 2.076 billion surplus registered for the entire month of November, 2004.
This amounts to an average daily surplus of US$ 229.33 million, leading to a projected monthly surplus that will be this year's second best, if the volume of international trade continues at its present level. Only July, when the surplus attained US$ 5.007 billion, will have been better.
The overall figures on the trade balance were released Monday, November 21, by Brazil's Ministry of Development, Industry, and Foreign Trade (MDIC).
They indicate that this year's trade surplus comes to US$ 39.102 million - US$ 9.585 billion (or 32.47%) more than the surplus registered over the same period last year, which was the best ever up to this point.
The cumulative surplus so far this year reflects the difference between exports worth US$ 103.501 billion (22.4% more than during the same period in 2004) and imports totaling US$ 64.399 billion (up 16.9% in comparison with last year).
The growth in trade flows leads to a projected annual surplus of more than US$ 42.4 billion, according to the Focus Bulletin, published Monday by the Central Bank and based on the expectations of market analysts and financial institutions.
Agência Brasil
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