• Categories
  • Archives

Brazil Expecting to Increase Its Exports in 2011 by 12%, Well Above the World Average

Corn container in Brazil In a repeat performance even though not as quite as strong following the 2010 30% expansion, exports from Brazil are forecasted to grow 12%, in 2011 according to the Brazilian Foreign Trade Secretary Weber Barral. In 2010 the recovery was quite strong, he says, compared to the downturn of 2009, but in 2011 global trade growth rate is expected to slow down. 

Nevertheless, “Brazilian exports are expected to continue advancing at a higher rate than the world average; we are targeting 12% against 9% for the rest of the world,” said Barral.

If forecasts come true Brazilian exports in 2011 should reach US$ 220 billion in 2011, above the US$ 198 billion 2008 record that should be matched this year since with two weeks left, sales overseas total US$ 192.5 billion.

Barral said that since world exports are forecasted to grow 19% this year, the Brazilian share of global trade should increase from the current 1.26% to 1.3% this year. However “2011 promises to be a difficult year, with tough competition we have a duty to advance in the access of markets,” said Barral.

The Brazilian official also said that the was hopeful that next year trade agreements with the European Union and Mexico could advance significantly, but also underlined that many times a sanitary agreement can have “better results than a trade agreement” strictly speaking.

Barral also mentioned the importance of Argentina for Brazilian foreign trade, rapidly becoming the second partner, ahead of the United States and only behind China.

The official admitted that Brazilian foreign trade needs to correct some domestic issues before putting all the blame on the “foreign exchange” difficulty which has sustainedly appreciated the Brazilian currency. “Before blaming others and asking for more protectionist measures, we must look for our mistakes,” he suggested.

Even with a sustained increase in imports, which in 2010 will accumulate a 42% expansion, Barral estimates the trade surplus to reach 16 billion USD in 2011, similar to what happened this year.

However the current account deficit in November, US$ 4.7 billion was the largest historically for the month. The previous record dates back to November 2009 with a deficit of US$ 3.3 billion. The accumulated for the year adds to US$ 43.5 billion compared to US$ 18.4 billion in the same period of 2009.

Mercopress

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

85% of Schools for Indians in Brazil Don’t Go Over 4th Grade

Brazil’s  indigenous population will get around 400 new schools, according to information from the ...

For Experts Brazil Can Resist Political Crisis, But Not Lack of Reforms

Economists downplayed the impact of the Brazilian political crisis on the economy but warned ...

Brazilian cachaça for export

Brazil Exports Reach US$ 66 Billion in 2007, a 20% Growth

The Brazilian trade balance surplus (exports minus imports) in the first 114 working days ...

Brazil Group in Charge of Cleaning the Police Indicted for Murder and Torture

Brazil’s Special Group for Fighting Organized Crime (Gaeco) of the state of Paraná has ...

Global Warming: Over One Million Expected at Live Earth Concert in Brazil

Live Earth disclosed today the line-up of popular music artists who will be performing ...

20,000 Volkswagen Workers Stop in Brazil to Protest Cuts

More than 20,000 workers in Brazil walked off their jobs, halting assembly lines at ...

After Tragedy, Brazil Restarts Space Program in 2007 with Ukraine’s Help

The launchpad at the Alcântara Air Base, in Maranhão, in the Brazilian northeast, will ...

Russian president Putin meets Lula, his Brazilian counterpart

While the US Only Has Eyes for Iraq Russia Warms Up to Brazil and LatAm

With Washington obsessively focused on the Middle East, and with China and Iran's stepped-up ...

Latin America Is Going the Brazilian Way, Not the American Way

Foreign ministers from 34 of the 35 countries in the Americas met this week ...

Argentina President in Brazil Looking for Inspiration and Money

The President of Argentina, Cristina Fernandez de Kirchner, traveled this Saturday, September 6 to ...