Brazil's exports boom

Brazil posted a record US$24.8 billion trade surplus last year, reflecting a 21 per cent surge in exports that is helping pull the economy out of its worst slump since 1998.

The surplus - the excess of export income over import payments - is 90 per cent above the US$13.1 billion surplus posted in 2002, the Development, Trade and Industry Ministry said.

The trade surplus is fuelling an economic recovery as exporters, led by steel and car manufacturers, boost sales to countries such as China.