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Brazilian Exports Grow 15% and Imports 23%

Brazilian exports added up to US$ 2.38 billion in the first four working days of the month, while imports reached US$ 1.73 billion, according to the figures released today, July 7, by Brazil’s Ministry of Development, Industry and Foreign Trade.

With this, the trade surplus for the first week of August was of US$ 653 million, elevating to US$ 25.82 billion the year’s accumulated surplus.

External purchases have been increasing at a stronger pace. Because of this, the market analysts consulted by the Central Bank of Brazil estimate a drop in the surplus of about 10% this year, compared to the record surplus last year, of US$ 44.76 billion.

The year’s accumulated exports reached US$ 76.90 billion, an increase in 14.66% in relation to the same period in 2005, while imports added up to US$ 51.08 billion, with an increase in 23.06%.

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  • adrianerik

    How Many Dropped Out of the Market
    These gross figures hide the devastating impact that the weak dollar has had on Brazilian businesses. The higher figures represent greater exports by a REDUCED number of Brazilian exporters. A huge number of Brazilian exporters have dropped out of the market or have severely reduced their exports because the strong real has made their goods too expensive to foreign markets. However, despite the falling interest rates dollars continue to pour into the Brazilian market (dollars buying reals strengthen the real) because the country is seen as a good and lucrative foreign investment. The Brazilian government has begun buying dollars (reals buying dollars should strengthen the dollar) in an attempt to have the exchange reach the 2.60 our 2.70 range. Nothing that can be done overnight.

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