China Overcomes US and Becomes Brazil’s Number One Trade Partner

Made in China Brazilian Ministry of Development, Industry and Foreign Trade’s just released final, revised report on Brazil’s international commerce in 2009 shows that in 2009, Brazil’s trade with the United States totaled US$ 35.9 billion (exports: $15.7 billion; imports: $20.2 billion).

But, for the first time, trade with China was more: a total of US$ 36.1 billion (exports: US$ 20.2 billion; imports: US$ 15.9 billion). The difference was only $200 million, but that does not make it any less a historical moment.

In other economic news, the president of the Central Bank, Henrique Meirelles, reports that Brazil has now met its inflation targets for the sixth consecutive year.

He was able to make that affirmation after the government statistical bureau (IBGE) released its Broad Consumer Price Index (IPCA) for the year of 2009. The result was inflation of 4.31%. The government target was 4.5%.
 
Meirelles said the real significance of having inflation under control was that it created a “foreseeable” economy where investments would increase naturally. He pointed out that average GDP growth over the past few years has been 5% (almost double recent growth, which, of course, was down due to the international financial crisis).
 
Brazil’s Central Bank (Fed) president added that wage earners benefited from controlled inflation and the job market showed a vigorous variation of employment levels.

Meirelles concluded by saying that Brazil begins the 21st century with international respect and the perspective of sustained growth over a long period that will be characterized by a substantial reduction in social inequality.

BNDES Raises US $1 billion

The Brazilian Development Bank (BNDES) has announced the conclusion of a US$ 1 billion bond offer on international markets The bonds mature in July 2020 and will have a yield of 5.634% per year.

The BNDES says that is the lowest bond yield that a non-sovereign Brazilian emitter has been obligated to pay on 10-year bonds since the beginning of the international financial crisis in 2008.
 
Along with that good news, according to the BNDES, demand for the papers was higher than supply, making the offer a complete success.

ABr

Tags:

Ads

You May Also Like

Brazil’s PPS Vows There Will Be No Deals for Congressmen Found Guilty of Corruption

The National Executive Committee of the Brazilian PPS (Popular Socialist Party) decided, to file ...

Some Banks Saying Brazil Won’t Grow More than 2.5% in 2005

Brazilian President Luiz Inácio Lula da Silva addressing a business forum in São Paulo ...

Micro business generates 40% of formal jobs in Rio, Brazil

Brazilian Businesses Optimistic About Coming Pan American Games

Micro and small businesses are optimistic regarding the Pan American Games, to be held ...

A Bororo Indian from Mato Grosso, Brazil

Young Brazilian Indian Killed Point Black When Bringing Water to Stranger

It was 10 pm, Saturday, March 17, when Helenildo Bataru Egiri, a 20-year-old member ...

Beija Flor Wins Brazil’s Carnaval with US$ 4 Million Extravaganza

Brazil's Carnaval has a winner. For the second time in a row and the ...

Brazil: Strikes Try Lula’s Party

The implications of Piauí Governor’s failure to navigate through an impending disaster could have ...

POR AÍ

I’m Crazy for You, America “Dealing with a completely different culture is a process, ...

Brazilian Cities Hosting 2014 World Cup to Get US$ 1.5 Billion from Government

Brazil has earmarked 3 billion Brazilian reais (US$ 1.5 billion) for investment in works ...

Improta Pushing Brazilian Jazz’s Envelope

Gabriel Improta’s music may owe something to Baden Powell’s world, but he sets his ...

US Wants a Sharper Eye on Brazil’s Border

A report by the US State Department informs that Brazil is cooperating with the ...