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Brazil trade surplus narrows 45 percent in the first half of 2008

July 02, 2008, 06:40 AM Post Comments
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Brazil's trade surplus has narrowed by 45 percent in the first half of 2008 as a weak U.S. dollar boosts demand for imports.

The Trade Ministry says Brazil exported US$11.4 billion more than it imported in the first six months of the year, down from US$20.6 billion more in the same period last year.

A strong local currency and weak U.S. dollar have made foreign goods cheaper, boosting imports to Brazil's booming economy. Exports also climbed, but not as quickly.

The Trade Ministry on Tuesday said Brazil exported US$18.6 billion worth of goods in June, or 35 percent more than in June 2007. Imports climbed twice as fast, rising 62.6 percent in June to US$15.9 billion over the year-ago period.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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