Brazil Ups Exports Target to US$ 135 Billion and Surplus to US$ 44 Billion

According to estimates announced by the Brazilian Ministry of Development, Industry and Foreign Trade Brazil should export up to the end of the year US$ 135 billion. 

The target for 2006 was US$ 132 billion, "but the result that has been taking place permits increasing the total by another US$ 3 billion," stated the Foreign Trade secretary at the ministry, Armando Meziat.

According to Meziat, the export figures that are being reached "are due more to product price increases abroad than to greater quantities shipped."

He said that the forecast is for prices to have risen by approximately 15% by year-end when compared to 2005, with the volume of exports rising just 6%.

"There are reasons to commemorate," he stated, despite recognizing that substantial increases in export volumes only took place between 2002 and 2005.

The secretary’s forecast is that Brazil should reach a trade balance surplus of US$ 44 billion in December. A few months ago, the ministry stated that the trade balance surplus should remain between US$ 40 billion and US$ 42 billion.

To Meziat, the surplus this year "will only not be larger because there are forecasts for export volumes to remain leveled in the last quarter of 2006, which begins in October."

The secretary minimized the possibility of negative trade balance effects if the crisis in the United States economy gets worse. He recalled that in the past Brazilian exports were turned mainly to the United States and Europe.

Nowadays, however, according to the secretary, Brazil exports much more to the countries in Latin America, and has diversified sales to other continents.

"If the American economy collapses, as it is the largest in the world, this would certainly affect the world as a whole, and the effects could consequently reflect on the Brazilian export market," stated the secretary.

Brazilian bilateral trade in the last 12 months (exports plus imports) totaled US$ 214.7 billion. Exports in the 12 months ending in September reached US$ 130.4 billion and imports US$ 84.4 billion, with a trade balance surplus of US$ 46 billion.

From January to September, exports exceeded the US$ 100 billion mark and imports reached US$ 66.7 billion. When compared to the same period in 2005, imports rose 24% and exports 16.8%.

There has been a 24% increase in imports when compared to the same period in 2005 and a 16.8% in the case of exports, when considering the daily average.

Tags:

Ads

You May Also Like

Protestors Vow a Red April in Brazil

Students, union workers and Landless workers seem to be on edge in Brazil. Apparently ...

Brazil’s Capital Brasí­lia Reaches 50 with New Works by Niemeyer, Its Creator

Oscar Niemeyer, Brazil's greatest living architect, at the tender age of 101 (no typo ...

Brazil Blackout Hit 50 Million, 18 States and Gave Weapon to Opposition

Itaipu, the world's largest operational hydroelectric dam,  which on Tuesday caused a four hour ...

Brazil’s Economy Shrinks, So Does Consumer Confidence

Brazil’s Gross Domestic Product (GDP) went down in the third quarter of this year ...

Appeals Court in Brazil Overturns US$ 13 Bi Judgement Against Philip Morris

In Brazil, the 7th Civil Chamber of the Court of Appeals of the State ...

Brazil Prepares Big Self Promotion Campaign in the US

The XXIII Plenary Meeting of the Brazil-United States Entrepreneurial Council got underway yesterday in ...

Brazil Goes on Spending Spree and Gets Worst Primary Surplus since 1991

Spending too much was the main reason for the worse primary account result, in ...

Business Deals, the Early Fruits of Brazil’s Arab Summit

The business meeting promoted by the Arab Brazilian Chamber of Commerce (CCAB) on May ...

28% of Brazil’s Urban Population Have no Public Water or Sewage

Scarce supply and high prices are Brazil’s chief problems in the housing sector, according ...

Brazil Reaches 190 Million People, But Will Stop Growing in 30 Years

The population of Brazil reached 189.6 million and will cease to grow in 30 ...