Brazil posted a record monthly trade surplus in June of $4.03 billion, up from $3.8 billion a year earlier, the trade ministry said on Friday, and the trade minister forecast a record surplus for the year. The result boosted the January-to-June trade surplus to $19.67 billion. June exports were $10.21 billion, a monthly record, and imports were $6.18 billion, according to data posted on the ministry's Web site.
At a news conference, Trade Minister Luiz Furlan said he expects a trade surplus of more than $35 billion this year.
Economists also expect Brazil this year to post its biggest trade surplus, at $35 billion, thanks to sales of commodities like soy and iron ore, along with a more diversified batch of products and buyers. Last year, the surplus was $33.7 billion.
Brazil's improving trade performance, fuelled largely by a relatively cheap currency, the real, has allowed it to post a current account surplus in each of the last two years after years of destabilising current account deficits.
A $9.35 billion current account surplus is forecast for this year, according to the central bank's latest weekly survey of market economists.