SAO PAULO -(Dow Jones)- The Brazilian Exporters Association, or AEB, has revised upward its forecast for Brazil's trade surplus in 2010, although the nation will still see a decline versus 2009, the association said Thursday.
The association is expecting Brazil's trade surplus to weigh in at $15.04 billion this year, up from the $12.23 billion expected previously. By comparison, Brazil posted a trade surplus of $25.35 billion in 2009. The newly forecast number would represent a 40.6% decline from last year.
According to the association, the trade surplus expected for this year should be considered as positive, given the uncertain scenario across the globe.
Both imports and exports will increase in 2010, according to the AEB. The AEB expects Brazilian exports in 2010 of $189.5 billion and imports of $174.4 billion. In 2009, exports totaled $153 billion and imports totaled BRL127.6 billion.
So far this year, through July 18, Brazil's trade surplus totaled $9.2 billion, down from $16.1 billion in the same period of 2008.
Copyright 2009 Dow Jones Newswires
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