• 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

Brazilian Imports from Arabs Grow 33%. Exports Up 22%.

The Arab countries had 32.6% greater revenues from exports to Brazil in the first ...

The author's boat, the Roamdeep

Brazil Won’t Let My Boat Out, the US Won’t Let My Brazilian Wife In

I received my visa (A 1416275) to Brazil in Trinidad, on October 6, 2002. ...

Brazil’s First Effort to Coordinate State and National Industrial Policies

Seminar "Industrial Development Strategy in the States" is going to take place on August ...

Banned in Brazil Paris Hilton’s Beer Commercial Becomes YouTube Hit

After paying a fee of about US$ 800,000 to socialite Paris Hilton for her ...

Powell: ‘Brazilian Way of Fighting Hunger Is Unworkable’

We do support Brazil. We feel strongly that poverty and hunger are two enemies ...

American Pilots Detained in Brazil Don’t Appreciate Presidential Suite

Joe Lepore and Jan Paladino, the American pilots of the Legacy executive jet, which ...

Franklin Martins at the time he was wanted by the police

Brazil’s New Cabinet Has Man Who Kidnapped US Ambassador in 1969

Brazilian President Lula da Silva and his newly formed ruling coalition completed the reshuffling ...

Telephone Manners in Brazil

When calling an executive in Brazil you will be asked, "Who wishes to speak," ...

Brazil Approves Tobacco Control After Tobacco Growers Are Assured Protection

The ratification of the Framework Convention on the Control of Tobacco Use was approved ...