Despite Crisis Brazil’s Retail Grew Almost 6% Last Year

Store Edmil in BrazilIn 2009 the turnover of Brazilian retail trade grew 5.8%. It was the lowest rate since 2004, mainly due to the reduction in sales caused by the world economic crisis. The information was culled from the Serasa Experian research company’s Trade Activity Indicator.

The furniture, household appliances and computers segment grew 12.8%. Retail sales of textiles, clothing, shoes and accessories, and vehicles, motorcycles and parts grew 7.9%. There were reductions in sales of fuels and lubricants (- 2%) and building material (- 13.7%).

According to the Serasa Experian, the good performance in retail trade in the second half of 2009 was not enough to compensate the losses caused by the effects of the international economic crisis.

In December, the turnover of retail trade grew 2.4% in comparison with November. The result was driven by furniture, household appliances and computers, which recorded growth of 3.3% compared with the previous month. Other segments that helped the performance last month were vehicles, motorcycles and parts (2.8%) and building material (2.9%).

In comparison with December 2008, retail trade grew 10.8% last month. The highlights were vehicles, motorcycles and parts (+ 22.9%); textiles, clothing, shoes and accessories (+ 22.2%); and furniture, household appliances and computers (+ 20.6%).

Forex Reserves

Brazil’s Central Bank announced that the country’s foreign exchange reserves by the end of 2009 reached a record-high figure of US$ 239.054 billion, growth of US$ 32.248 billion compared with 2008, when Forex reserves totaled US$ 206.806 billion.

A significant share of the growth was due to the resumption of purchases of dollars in the spot market by the Central Bank. According to the Flow of Foreign Exchange Bulletin, by December 24th, the country had received an inflow of US$ 28.89 billion, of which US$ 26.9 billion consisted of additional reserves.

Throughout the year, the purchases of dollars were also regarded as a means to contain the devaluation of the United States currency against the Brazilian real, which lost 25% of its value over the course of last year, leading Brazilian products to lose competitiveness in the international market.

ABr

Tags:

  • Show Comments (0)

Your email address will not be published.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 Wants to Lower Number of Blank and Annulled Votes

The president of Brazil’s Federal Election Board (Tribunal Superior Eleitoral) (TSE), Marco Aurélio de ...

Brazil Leads Creation of South American NATO. US Counter Attacks

Member states of the Union of South American Nations (UNASUR) signed a pact on ...

Close to Half a Million Brazilians to Get Cancer This Year

Around 460 thousand Brazilian men and women are expected to fall victim to cancer ...

HP Starts Selling Linux Powered Computers in Brazil

Mandriva, publisher of the popular Mandriva Linux operating system, announced a new partnership with ...

Brazilian Gasoline Gets Back Its 25% Alcohol Addition

Brazil has two kinds of sugarcane-based ethanol. There is a pure ethanol. And there ...

A Whole Month of Non-Stop Brazilian Caroling

Once again this year, starting on Thanksgiving Day, those all over the word who ...

Former Labor Minister Pans Brazil for Creating Too Few Jobs

Brazil’s Federal Deputy Walter Barelli from São Paulo, a former Minister of Labor, says ...

Brazil’s Lula Called On to Soften Bush’s Heart on World Poverty

The United Nations seems to be failing to deliver on its  first Millennium Development ...

British Court Orders Body Shop to Pay Brazilian Project’s Former Workers

The English cosmetic retailer The Body Shop has been ordered by a Brazilian court ...

Brazilian economist Plínio Soares de Arruda Sampaio

Lula’s Closeness to Chavez Only Makes Brazil More Alluring to Bush

The Bank of the South is already a reality. Enthusiasts say it is another ...