Brazil’s Financing for Exporters Grows 45%

Brazzil Magazine covers

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

Tags:

You May Also Like

Brazzil Magazine covers

Argentina Army Seems to Be Smuggling Weapons to Brazilian Mafia Groups

A Brazilian congressional committee began Wednesday, February 1st, contacts with Argentina and other neighboring ...

Brazzil Magazine covers

Dollar Reaches Record Lows in Brazil While Brazilians Spend 44% More in Overseas Trips

For the 6th straight day the American dollar continued on Tuesday its free fall ...

Brazzil Magazine covers

Brazil Wants Light for All Completed by 2009 Instead of 2015

The Brazilian Association of Electric Power Distributors (Abradee) calculates that the electric sector will ...

Brazzil Magazine covers

Future Is Close: In 10 Years Brazil Will Be Planet’s Main Food Warehouse

The adjectives are many and voiced loudly all around: Brazil is the world’s warehouse; ...

Brazzil Magazine covers

Deteriorating Economy Leads Brazil to Cut Interest Rates by 1%

In a surprise move, Brazil's Central Bank (BC) decided today to cut by a ...