Brazil basks in commercial bonanza that fuels its economy

Brazil amassed a record high $8 billion worth of surplus during the first five months of the year, the National Foreign Trade Department of the Ministry of Economic Development informed yesterday.

In line with this report, Brazil’s exports in May netted $6.4 billion while imports accounted for just $3.8 billion for a $2.5 billion surplus. In the month of April, that same favorable balance had peaked $1.7 billion.

Brazilian foreign trade secretary Ivan Ramalho said his country nicked over $19 billion in surplus funds all through last year.

”The opening of new markets and the diversification of the country’s exporting potentials are two factors that helped improve our trade,” he averred.

Mr. Ramalho indicated Brazil’s exports in the course of the last twelve months reached more than $66.5 billion for a 20.3 percent increment compared to the same period of time in past years.

He went on to say the nation imported goods for little more than $47 billion during that span of time for a meager 6.3 percent over the period between 2001 and 2002.

Brazilian minister of economic development Luiz Fernando Furlan revealed the national goal is set at a trade surplus in the neighborhood of $16 billion.

Mr. Furlan pointed out “the country is gunning for $60 billion worth of exports in 2003, 13 percent more than the year before.”