UPDATE 1-Brazil Aug trade surplus slips from year-ago

* Brazil’s trade surplus $2.44 billion in August

* Surplus below forecast, slips from year-ago period
(Recasts, adds exports and imports)

SAO PAULO, Sept 1 (BestGrowthStock) – Brazil’s trade surplus in
August slipped from a year ago as imports grew faster than
exports.

Brazil posted a trade surplus (BRTBAL=ECI: ) of $2.44 billion
last month, compared to $3.054 billion in August 2009, the
trade ministry said on Wednesday.

The country had been expected to report a trade surplus of
$3 billion last month, according to the median forecast of 13
economists surveyed by Reuters. Estimates ranged from $2.5
billion to $3.3 billion.

The surplus rose from the previous month, as exports
climbed. The July trade surplus was $1.36 billion.

Brazil rebounded from the global financial crisis faster
than many more developed economies. That has pushed up imports,
at the same time that sluggish growth abroad has weighed on
Brazilian exports.

Exports totaled $19.236 billion in August against $17.673
billion in July and $13.841 billion in the year-ago period.

But imports rose faster from the year-ago period, to
$16.796 billion last month from $10.787 billion in August 2009.
Imports in July totaled $16.316 billion.

In May, Brazil’s government announced long-awaited measures
to boost exports, including creating a lender, EXIM Brasil, to
help in trade financing.
(Reporting by Elzio Barreto; Writing by Luciana Lopez; Editing
by James Dalgleish)

UPDATE 1-Brazil Aug trade surplus slips from year-ago