Brazil’s Foreign Exchange Flow at US$ 2.9 Billion Deficit

DollarThe balance of dollar inflows and outflows from Brazil, known as the foreign exchange flow, remains at a deficit according to figures released by the Brazilian Central Bank. In the second week of April, outflows have exceeded inflows by US$ 2.941 billion.

Month-to-date through April 12th, the deficit stands at US$ 3.002 billion, as against a US$ 180 million surplus in the first ten working days of April 2012.

Month-to-date through April 12th (ten working days), most of the deficit was due to financial operations (investment in bonds, profits and dividends remittances to foreign countries, and foreign direct investment, among other operations), which posted a US$ 2.049 billion deficit, while foreign trade operations (export and import) posted a US$ 954 million deficit.

From January to April 12th, the forex flow ran a US$ 5.102 billion deficit. Financial operations ran a US$ 2.101 deficit and the deficit from foreign trade operations was US$ 3.001 billion.

Jobs in March

The generation of job posts in March dropped as against the previous month, to 112,400 posts, as against 123,400 posts created in February. The figures were disclosed in the General Records Office for Employment and Unemployment (Caged), disclosed on Thursday (17). The balance was the best for March over the last three years.

The result is the difference between the 1.8 million workers hired and the 1.7 million fired. January was the month with the worst performance, with the creation of 28,900 posts – the lowest result since 2009, the year of the international financial crisis.

According to the minister of Labor and Employment, Manoel Dias, expectations by the government are for the year to end with generation of around 1.7 million new work posts.

The balance verified in March suggested equal dynamics in the same month in 2012, when some 111,700 work posts were created.

To the minister, the result for last month shows the recovery of the labor market, due to the weak performance in January. “In January there was also growth. We hope we are in a recovery and job generation process,” said Dias.

ABr

 

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