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Brazilians Spent Close to US$ 1 Billion Overseas in June, the Best Since the Crisis

Brazilian airport Brazilians spent a total of US$ 987 million in June this year on international trips, the highest figure since September 2008 (US$ 1.124 billion), when the international financial crisis worsened. The information was disclosed by the Brazilian Central Bank (BC).

According to the head of the Economic Department of the Central Bank, Altamir Lopes, the recent rise in expenditure by Brazilians in foreign countries is a result of the depreciation of the dollar against the Brazilian currency, which makes travel cheaper. So far this month (July 27), spending by Brazilians in foreign countries totals US$ 813 million.

Expenditure by Brazilians abroad should exceed revenues from foreign spending in the country. According to the forecast of the Central Bank, the country's travel account should end the year on a deficit of US$ 3 billion. In June, the deficit was US$ 584 million, and according to preliminary figures it totals US$ 493 million in July so far.

Still according to preliminary figures for this month, spending by foreigners in trips to Brazil totals US$ 320 million so far, whereas in June the figure was US$ 403 million. In September last year, expenditure totaled US$ 468 million.

From January to June this year, the travel account deficit was US$ 1.887 billion, as a result of US$ 2.567 billion spent by foreigners in Brazil, and US$ 4.454 billion spent by Brazilians abroad.

During the same period of last year, the deficit was US$ 2.635 billion, the result of US$ 2.899 billion spent by foreigners in Brazil and US$ 5.534 billion spent by Brazilians in foreign countries.

Trade Surplus

Brazil recorded a trade surplus of US$ 653 million in the fourth week of July, from the 20th to the 26th, according to figures disclosed today (27th) by the Brazilian Ministry of Development, Industry and Foreign Trade.

Sales from Brazil to foreign countries totaled US$ 3.424 billion, and purchases totaled US$ 2.771 billion. Up until the fourth week this month, exports totaled US$ 11.512 billion and imports, US$ 8.708 billion, resulting in a surplus of US$ 2.804 billion.

So far this year, the Brazilian trade surplus is US$ 16.791 billion, with US$ 81.464 billion in exports and US$ 64.673 billion in imports.

From January until the fourth week of July, exports per business day averaged at US$ 889.2 million, and imports averaged at US$ 744.4 million. During the period, there was a reduction of 23.4 % in exports and of 29.6% in imports, over the same period of 2008.

ABr

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  • Show Comments (1)

  • ch.c.

    the country’s travel account should end the year on a deficit of US$ 3 billion
    Looks like Brazilians with a little of money prefer to spend their vacations far away
    from their 70000 kms of…..mostly dirty beaches.
    And that foreigners tend to avoid these same beaches-

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