Brazil's trade surplus rises 5.6 pct in August

Sep 3, 2007 - Brazil's trade surplus rose 5.6 percent in August from July, government data showed on Monday, as imports grew at a slower pace after the country's currency tumbled during global market turmoil last month.

The trade surplus rose to $3.54 billion in August from $3.35 billion in July. The result was lower than the $4.55 billion surplus in August 2006 and higher than a $3.1 billion median estimate of 11 economists in a Reuters survey. The estimates ranged from $3.05 billion to $3.7 billion.

Exports rose 6.9 percent to $15.10 billion in August from July, slightly down from the 7.6 percent expansion in July from June. Imports grew 7.4 percent to $11.57 billion in August, half the growth rate for the month-on-month expansion in July, when imports rose 15.8 percent.

Brazil's currency, the real , slumped 4.3 percent in August, posting its biggest decline in 15 months because of the market volatility caused by concerns over a global credit crunch. The weaker currency made it more expensive to buy goods from abroad.

Brazil, Latin America's largest economy, posted a record trade surplus of $46.08 billion in 2006.