• Categories
  • Archives

Brazil Is Back to Black on Foreign Trade

Port of Santos, in Brazil Trade surplus in Brazil hit US$ 1.7 billion in February, up from a US$ 518 million deficit in January and an US$ 882 million surplus in February 2008, the Brazilian Ministry of Development, Industry and Trade reported this week.

Despite the significant improvement in February, the country is still undergoing a strong economic deceleration compared with the same period in 2008. According to the ministry, exports in February reached US$ 9.5 billion, with an average rate of US$ 532.7 million per business day, up 14.4% from January but down 20% from the same period of last year.

Imports totaled US$ 7.8 billion, with an average of US$ 434.5 million per business day, down 11.5% from January and 30.9% from the amount registered in February 2008. The accumulated trade surplus in the first two months of 2009 dropped 26.3% from the same period in 2008, to US$ 1.2 billion, with an average of US$ 31.9 million per business day.

Both accumulated exports and imports also shrank in February, down 21.9% and 21.6% from the same period of last year, to 19.3 and 18.1 billion dollars respectively.

In 2008, Brazil was already experiencing a reduction in its trade surplus, mainly because of rising imports on strong domestic economic growth. Brazil's economy expanded by an estimated 5.6% in 2008, but growth this year is expected to reach only about 1.5%.

Brazil's foreign trade surplus narrowed significantly last year to 24.74 billion compared with the 40 billion of 2007.

According to Brazil's central bank weekly survey of expert opinion, released earlier Monday, the 2009 foreign trade surplus will reach just 13 billion US dollars.

The weekly survey tracks the opinions of 100 analysts and economists from banks and brokerages, reporting the average of their expectations.

Mercopress

Tags:

  • Show Comments (1)

  • Ric

    Interesting
    But these are not normal times. If you want to survive, don’t fixate on what Brazil is doing or not doing. Look at the world. The world markets will determine the financial future of Brazil, not vice-versa. So if your success depends on finances, prices and markets, look at Asia, Europe, Nafta. And remember the old saw, nothing is ever confirmed until it is officially denied.

    Unless you make your living making the wonderful, tax-exempt farinha d’agua, in which case the rest of the world doesn’t make much difference.

    When you paulistanos are out of money and food and running for cover and safety, people in the amazon will be heading for the roca (hossa). Not living large, but eating and surviving.

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

U.S.A. Calendar – 1995

THURSDAY 3 MIAMI 8:00 PM – Rio Ecstasy with Marta Sargentelli at Scala Miami ...

Brazilian Chicken Exports Grow 20%

Brazilian chicken exports amounted to 231,871 tons in March, for revenues of US$ 256.8 ...

In Brazil the Left Thrives

The big winners of Brazil’s 1964 military coup, unlike what the Brazilian military think, ...

Brazil’s Senate President Vows to Help Venezuela’s Political Prisoner

Former Brazilian president and current President of the Brazilian Senate, José Sarney, met this ...

Brazilian Exporters Abandon Dollar in Favor of Euro

The euro is presenting itself as an alternative for Brazilian exporters when faced with ...

Brazil President’s Aide Steps Up War of Words Calling FIFA’s Secretary Bum and Big Mouth

In Hanover, Germany, where he is accompanying the Brazilian president Dilma Rousseff, Marco Aurelio ...

Brazil 3-0 Soccer Loss to Argentina in Beijing Drives President Lula Mad

The president of Brazil, Luiz Inácio Lula da Silva criticized sharply the spirit of ...

Brazil’s Petrobras Needs to Respect Bolivia’s Property Rights

A Brazilian physicist, José Walter Bautista Vidal, who played an important role in the ...

RAPIDINHAS

As a rule, parties in Brazil—like the individual candidates themselves—do not put together programs, ...

15th Movelsul Brazil, LatAm’s Largest Furniture Fair, Expects 33,000 Visitors

Movelsul Brazil 2006, the largest international furniture fair in Latin America, will be held ...