Brazil’s Financing for Exporters Grows 45%

A Banco do Brasil branch in Brazil Bank of Brazil, a state-owned financial institution, ended the month of April with an increase of 45% in export financing contracts, which resulted in a business volume of over US$ 1.5 billion. These figures were just disclosed by the bank, which provides two kinds of export credit operations: Advance on Exchange Contracts (ACC) and Advance on Export Contracts (ACE).

According to information provided by the institution, ACC and ACE contracts advance to exporters in the Brazilian currency funds equivalent to the value of the sale they made in foreign currency. In the case of ACC, the funds are granted before shipping to finance the production of the goods to be exported. The ACE, in turn, is used after shipment, i.e., after the sale.

From January to April this year, the Bank of Brazil has already approved U$ 4.7 billion in both of these kinds of export financing contracts, growth of 23% when compared to the first four months of last year.

In April, exchange contracting, which includes export financing, grew 96% over the same month last year, and reached US$ 3.7 billion. From January to April, these operations have totaled US$ 11.3 billion, with a positive variation of 33%.

Brazilian exports in April totaled US$ 12.44 billion, representing growth of 26.6% over the same month last year. The main products exported in April were soy grain, crude oil, iron ore, coffee, chicken meat and beef, vehicles and sugar, among others.

The five main buyers Brazilian in April were the United States, with imports of US$ 2.17 billion, Argentina, US$ 1 billion, China, US$ 1 billion, the Netherlands, US$ 704 million and Germany, US$ 641 million. The markets that grew most in the period were the Middle East, Eastern Europe and the European Union (EU).



You May Also Like

Brazil: Favela Gets Ghetto-Fabulous

While a new initiative by Rio’s police hopes to clamp down on the drugs ...


I’m Crazy for You, America By Brazzil Magazine

A Publishing House in Brazil Offers Adult Books to Children

Contributing to form a more critical generation. This is the mission of Edições SM, ...

Taking Brazilian Guaraní¡ to a Thirsty World Out There

In 2002, Santa Cláudia Bebidas e Concentrados da Amazônia, based in the city of ...

Growth Is Not Development and Brazil Is Proof of It

Once again Latin America is confusing development with economic growth, and economic growth with ...

Brazil’s Petrobras Lending Up to US$ 574 Million to Small Suppliers

Petrobras, Brazil’s state-controlled oil and gas multinational is going to offer credit to small- ...

Drought Won’t Prevent Brazil from Getting Largest Cereal Crop Ever

The Brazilian government is forecasting a record crop of cereals and oilseeds totaling 148.9 ...

Brazilians Search Foreign Partner for Ground-Stone Fertilizer Venture

Established by two geologists from the midwestern Brazilian state of Mato Grosso, RockAll Fertilizantes ...

Music producer Guilherme Araújo

Guilherme Araíºjo, Who Made Tropicalismo a Household Name, Is Dead

The man who made Brazil's musical movement Tropicalismo into a  global marketing phenomenon has ...

Industry Gets Lion Share of Brazil’s Development Bank

The Brazilian Development Bank (BNDES) spent US$ 3.7 billion in loans in the first ...