Brazil’s 2006 Account Surplus Reaches US$ 2.5 Bi, 37% Less Than Last Year

Brazil’s foreign accounts continue on the upswing, and the country’s balance of payments, which include all its foreign transactions, ended up with a US$ 6.769 billion surplus in May.

This information comes from the Foreign Sector Report issued yesterday, June 21, by the Economic Department of the Central Bank (BC).

The chief factors contributing to the surplus were the significant surpluses chalked up in the financial account (US$ 5.662 billion) and in the current account (US$ 475 million).

The star performer was once again the trade surplus, which amounted to US$ 3.027 billion, together with foreign portfolio investments (US$ 2.635 billion) and foreign direct investments in the productive sector (US$ 1.576 billion).

These figures were presented by the head of the BC’s Economic Department, Altamir Lopes, who pointed out that the cumulative current account surplus so far this year comes to US$ 2.506 billion.

He remarked that this outcome is "very good by Brazilian standards," but it is still far from the US$ 3.973 billion surplus attained in the same period last year. The decline amounts to 36.92%.

According to the report, foreign direct investments totaled US$ 1.576 billion in May, more than double the amount registered in May, 2005.

Net foreign direct investments since January have gemerated a surplus of US$ 6.324 billion, 12.03% less than last year’s figure of US$ 7.189 billion for the first five months of the year.

ABr

Tags:

Ads

You May Also Like

Saudi King Calls Lula and Vows to Visit Brazil

Saudi king Fahd bin Abdel-Aziz Al-Saud telephoned Brazilian President Luiz Inácio Lula da Silva ...

Brazil’s Agribusiness Has Record US$ 50 Billion Surplus. US Is Main Buyer

Brazilian agribusiness exports totaled US$ 58.4 billion in 2007, an increase of 18.2% compared ...

Brazil-Argentina Automotive Accord Opens Door to Mercosur Free Trade

Brazil’s Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, received a show ...

Dilma’s Legacy: Dealing with Lula’s Remnants of Corrupt Aides

Dilma Rousseff approaches the anniversary of her inauguration as Brazil’s president at the beginning ...

When Brazilian Jazz Came to the US

Little did jazz guitarist Charlie Byrd and his friend saxophonist Stan Getz know that ...

Foreign Tourists Spend US$ 1.5 Bi in Brazil While Brazilians Spend US$ 1.7 Bi Overseas

Foreign tourists spent US$ 1.5 billion from January to April this year in Brazil, ...

In Brazil the Left Thrives

The big winners of Brazil’s 1964 military coup, unlike what the Brazilian military think, ...

Brazil and Colombia Pushing for a 30% Increase in Trade

The Brazilian Minister of Foreign Relations, Celso Amorim, Monday, June 27, went to the ...

Brazil in Recession, with Industry Due to Shrink 1.7% in 2014

Industrial-activity data released this week added to worries that Brazil’s economy, already in recession, ...

Brazil Discusses Judicial Reform in London

The Brazilian Minister of Justice, Márcio Thomaz Bastos, discussed Brazilian judicial reform with Lord ...