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Brazil’s Financing for Exporters Grows 45%

A Banco do Brasil branch in Brazil

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).

Anba

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