Brazilians’ Assets Overseas Sum to US$ 95 Billion

The sum total of Brazilians’ assets abroad (personal and corporate assets, including cash, loans, merchandise, real estate, and investments) attained US$ 94.7 billion in 2004, a 14.6% increase over the US$ 82.6 billion registered in 2003.

These figures come from the report, “Preliminary Results – Brazilian Capital Abroad,” released yesterday, June 20, by Brazil’s Central Bank (BC).


The study was based on declarations of foreign investments for the calendar year 2004. The deadline for filing this declaration is June 31. The complete results will be announced in the second half of the year.


According to the head of the BC’s Department of Foreign Capital and Currency Exchange, Sidinei Corrêa Marques, the study shows that the country is increasing its participation abroad and that the Brazilian economy is becoming more internationalized with each passing year.


74% (US$ 70.6 billion) of Brazilians’ foreign assets are the result of direct investments (purchases of shares of foreign companies or investments in branches or new offices).


Nevertheless, the item that exhibited the greatest year-to-year growth was portfolio investments abroad (stocks, certificates of deposit, and government bonds), in which Brazilians invested US$ 8.2 billion, 38% more than in 2004 (US$ 5.9 billion).


The number of individuals who filed declarations of foreign investments also rose, 6.2%, from 8.9 thousand in 2003 to 9.4 thousand in 2004.


On the other hand, the number of legal entities filing declarations declined 3.8%, from 1.7 thousand in 2003 to 1.6 thousand in 2004.


The declaration was mandatory for legal entities and individuals residing in Brazil or having a domicile or headquarters in Brazil and possessing any kind of foreign assets worth US$ 100 thousand or more in the calendar year 2004.


ABr – www.radiobras.gov.br

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Your email address will not be published.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

Malaria mosquito

Brazilian Guinea Pigs: Torture in the Name of Science

Often we discover denunciations to be less serious when we check on them in ...

Brazil Gets Argentina’s OK to Resume Pork Export. Chile and Russia Might Follow.

Argentina has just announced that it would resume importing boneless pork and other pork ...

Samsung Tells Brazil Has a Lot of Clean-Up to Do to Draw More Foreign Investment

In the last two years, Brazil has gathered three pillars necessary for a sustained ...

After a Two-Year Ban, Brazilian Beef Allowed in China Again

Brazilian Agriculture minister Neri Geller just announced that the Chinese government has agreed to ...

Mobile to Soon Become More Popular than Fixed Broadband in Brazil

By 2011, according to a new report from Pyramid Research, Mobile broadband will surpass ...

Brazil: Seeing Dollar Signs

Brazilian banks are betting in a growing economy for 2004. At the same time, ...

Calendar

Although this year’s Carnaval that took place in June in San Francisco is just ...

In Brazil, Small and Big Farmers Are All in Same Shaky Boat

Agribusiness is the driving force in Brazilian economy, answering to 33% of the Gross ...

65% of Brazilians Believe Peace Is Back Thanks to Deal with Organized Crime

After four days of organized gang attacks and a ferocious police backlash with a ...

The Ghosts of Rio

I did as the Cariocas and stepped right over the bodies. They shopped for ...