The Brazilian trade surplus in 2011 reached 29.79 billion U.S. dollars, an increase of 47.8 percent from the previous year, the Ministry of Development, Industry and Foreign Trade announced on Monday.

The trade surplus for 2011 far surpassed experts' estimates at the beginning of the year.It was the highest trade surplus recorded in the country since the beginning of the international financial crisis years ago.

Brazil witnessed the lowest trade surplus in eight years in 2010.

Exports of the country in 2011 totaled 256 billion U.S. dollars, up 26.8 percent from the previous year,while imports rose 24.5 percent to 226.25 billion U.S. dollars.

The ministry attributed the higher trade surplus to the higher price of

commodities in the international market, especially in the first half of the year.

Economists from Brazil's financial institutions have said the

trade surplus for the year of 2012 could stand at 17.9 billion U.S. dollars.