Exports Up 32% in Brazil


Brazil’s cumulative trade surplus so far this year stands at US$ 22.501 billion. This result correponds to 72.58% of the US$ 31 billion trade surplus that financial markets are now forecasting for 2004 as a whole.

From January through September 5, overall exports amounted to US$ 62.730 billion, while imports came to US$ 40.228 billion. In terms of averages per business day, exports were up 32.5% compared with the same period last year, while imports grew 27.7%, on the same basis.

In the first week of September (1-5), Brazil sold more than it bought. The difference between US$ 1.376 billion in exports and US$ 825 million in imports generated a surplus of US$ 551 million.

The daily averages in September, in comparison with September, 2003, rose 38.6% in the case of exports and 31.1% in the case of imports. In comparison with August, 2004, the daily averages were up 11.4% and 7.6%, respectively, for exports and imports.


The primary surplus target (revenues minus expenditures, excluding interest payments) will remain unaltered, if it is up to the Minister of Finance, Antônio Palocci, who talked about the subject last month.


“The government has already firmed a surplus at levels Brazil needs in the coming years,” he affirmed.

According to the Minister, the primary surplus target equivalent to 4.25% of the Gross Domestic Product (GDP) has shown itself to be effective, since the ratio between government debt and the GDP has demonstrated “a very significant downward tendency.”

“If we look back ten years, this curve took a turn upwards and kept rising. But now (with the current primary surplus), we can already discern a downward trend,” the Minister said.

The Minister added that the government continues to study new measures to reduce the country’s tax burden. He said that the economic team believes that there is some room for tax adjustments. Palocci affirmed, however, that a complete tax “design” for 2004 is still not ready.

On the other hand, he cited as a positive sign the revenues obtained from other taxes, which have expanded with the growth in economic activity. According to Palocci, this increment has allowed the government to work with tax adjustment measures that will be beneficial to economic activity.

Agência Brasil

Tags:

  • Show Comments (1)

  • Guest

    michael holzem
    hi!!!!!!!!!!!!!!!!!!!!!!!!!

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil’s Highways Are a Disaster, Admits Government

The investments made on Brazil’s highways over the past 12 years were mere maintenance, ...

Over 30% of Brazilian Petrobras’s Pre-salt Wells Are Dry, Says Newspaper

Brazil's state-controlled oil and gas multinational Petrobras announced this Tuesday, July 28, in an ...

This Is Old GDP, Says Minister About Brazil’s Just-Revealed Recession

Brazil's Finance minister, Guido Mantega, when commenting on the Brazilian economy performance in the ...

To Grow as Agricultural Power Brazil Needs to Fix Transport Bottlenecks

To create conditions for Brazilian farmers to plan their medium and long-term activities and, ...

If It All Goes As In Scripts Past Brazil Will Soon Lose 6th Minister to Corruption

According to Brazil’s most popular weekly news magazine, Veja, advisers to Brazilian Labor minister ...

Brazil Is Not Finished with the Middle East. Lula to Revisit Region This Year

The Brazilian government is betting on the promotion of official visits and trade events ...

Brazil Is Mad: ‘We Pay the Bills. Why the High Premium Abroad?’

The Brazilian Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, said that ...

Brazil’s Wheat Harvest Drops 13%. Blame It on the Rain.

This year’s national grain production in Brazil may have a reduction of approximately 5.5% ...

Brazil Exports Grow to Record US$ 137 Billion, 16.2% More than in 2005

Brazil’s trade balance had its second best monthly performance in 2006 in December, which ...

Arabs Soon to Be Chief Importers of Brazil Beef. But US Is Still Closed.

Within the next two to three years the Arab countries will become the main ...