UPDATE 1-Brazil exports past worst of real's rise -minister

Tue Aug 5, 2008 3:53pm EDT
(Adds detail, context)
BRASILIA, Aug 5 (Reuters) - Brazil's exports have passed the worst impact of a soaring domestic currency and will grow by 31 percent through 2010, the country's trade and industry minister said on Tuesday.
But Miguel Jorge also told Reuters that he expected imports to continue to outpace export increases.
"The worst impact from the foreign exchange has already happened," Jorge said in reference to exports, which he expected to grow by 31 percent through 2010.
"I think there won't be such a big impact on exports, but (there will be) on imports," he said.
The real BRBY has strengthened about 13 percent against the U.S. dollar so far this year and more than 100 percent since 2002. Critics said the strong currency appreciation would bring export growth to a standstill.
But strong demand for commodities helped secure 27.2 percent growth in exports for the period between January and July this year compared to the same time-frame last year. Imports grew 52.1 percent during the same period. (Reporting by Raymond Colitt, Isabel Versiani and Ana Nicolaci da Costa; Editing by James Dalgleish)