BRAZIL'S TRADE SURPLUS DOUBLED IN FEBRUARY
Brazil's trade surplus doubled
in February to 261 mln dlrs from January's 129 mln but was well
below the 628 mln dlrs of February last year, official figures
show.
    Director of the Banco do Brasil's foreign trade department
(CACEX), Roberto Fendt, told reporters the upturn in February
confirmed a rising trend in exports which totalled 1.53 billion
dlrs against 1.26 billion in January and, after excluding
coffee and oil derivatives, was only slightly below the same
month last year.
    Coffee earnings were down to 110 mln dlrs against 295 mln
in February, 1986, because of lower prices, he added.
    Fendt said although the February results were lower than
the average expected for the rest of the year, the government's
target of an eight billion dlr surplus for 1987 should be
achieved. This would compare with a 1986 surplus of 9.5 billion
dlrs.
    Exports this year are expected to total 22.5 billion dlrs
and imports 14.5 billion, he added. In 1986 exports totalled
22.4 billion dlrs and imports 12.9 billion.
    Fendt said the rise in imports in February to 1.27 billion
dlrs from 1.12 billion in February last year was in line with
government plans to foster economic growth.
    Fendt said imports were running at levels well above the
traditional average for Brazil.
    Imports in the first two months of the year, excluding oil
and wheat, totalled 1.8 billion dlrs against 1.47 billion in
the same 1986 period.
    This rise reflected industry's need for equipment to raise
production and is perfectly compatible with the government's
program for economic growth, Fendt added.
 Reuter
