• Categories
  • Archives

Brazil Exports Grow 30% and Imports Reach Record

With expectations that exports will reach US$ 95 billion and imports US$ 62 billion, the Foreign Trade Study Center Foundation (Fundação Centro de Estudos do Comércio Exterior) (Funcex) says Brazil’s year-end trade surplus will reach US$ 33 billion.

Funcex figures for projected future performance are based on past results. Recent past results in foreign trade have been very good.


October exports reached US$ 8.8 billion, an increase of 16.9% over October 2003, while the average daily value of exports in October was US$ 442.2 million, the second highest of the year, up 34.4% over October 2003.


For the last twelve months, exports have risen a solid 30%. Finally, imports in October reached a historic high of US$ 5.8 billion, up 16.1% over October 2003.


The superior, all-around October performance permits a forecast of a strong close for the year.


Fernando Ribeiro, the chief economist at Funcex, says that the organization does not agree with many specialists who insist that Brazil concentrate on exports of high aggregate value.


Brazil has to export everything, he says. The only thing to take into consideration is demand, declares Ribeiro.


As for next year, Ribeiro says there should be a slowdown in international market prices which will affect Brazilian export growth. Export growth will be smaller than this year, he says, around 15%.


Agência Brasil
Translator: Allen Bennett

Tags:

  • Show Comments (1)

  • Guest

    Suggestion
    Hi! I liked this article very much, but I think it would be much better if you had explained more about FUNCEX. For sure is an important foundation in Brazil, but the readers do not know it

Your email address will not be published.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

Brazil Ditches Portuguese and Adopts Brazilian as Official Language

When Brazil's President, Luiz Inácio Lula da Silva, marks Independence Day on September 7 ...

Saucy Inconformist

"We don’t need anyone anymore. The same people who enslaved us invented the technology ...

4% or 146,000 Workers in Brazil’s Mines Are Children

The World Day Against Child Labor, instituted in 2002 upon an initiative of the ...

On-line samba

The Internet is full of stories of romances, of lives saved, of businesses started. ...

US$ 12 Billion Deal: Shell to Get Into Ethanol Business in Brazil

The world’s largest ethanol and sugar processor, Brazil’s Cosan, announced Monday it signed an ...

Brazilians, Get in Line! Interview Appointment for US Visa Takes 148 Days

Besides all the usual hassle they are already put through, Brazilians willing to travel ...

Brazil Says It Has No Interest in Joining the P5, the A-Bomb Club

The President of Brazil’s  National Nuclear Energy Commission (Comissão Nacional de Energia Nuclear, CNEN), ...

Brazil Markets Start Year Subdued

Brazilian equities began 2005 in a downslope performance, as investors booked some gains following ...

In Brazil, Bush Will Be Eating Beef the US Has Banned

Despite the outbreaks of foot-and-mouth disease in several Brazilian southern states, which prompted over ...

Hi! What now?

Anthropologist and Senator Darcy Ribeiro died on February 17. He was considered by most ...