• Categories
  • Archives

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

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Latam’s Main Furniture Fair Opens in Brazil

Thirty foreign buyers from Latin America, Europe and the Middle East are participating in ...

Brazil’s Defense Minister Bumpy Ride Ends Here

Jurist Nélson Azevedo Jobim, 61, a former Supreme Court chief, accepted Brazilian President, Luiz ...

Carnaval in the streets of Brazil

The Dance of the Despaired Ones Dreaming of Brazil’s South

The first day of carnival began at an earlier hour each year. The street-children ...

Brazil Raises Half a Billion Dollars Selling Global Bonds

Brazil's foreign exchange reserves, which totaled US$ 239.271 billion as of the 14th this ...

50,000 Brazilians in Line for Orthopedic Surgery

Tuesday, September 19, in Rio de Janeiro, Brazil’s Minister of Health, Saraiva Felipe, inaugurated ...

Bar Association Calls for Resignation of All Responsible for Brazil’s Plane Tragedy

Investigations are continuing into what caused Brazil's worst air disaster, as attention turns to ...

Sending Money with Brazil’s Warranty Seal

Brazilians far away from home have a new, easy and secure way of sending ...

Regards from São Paulo, Brazil

A little vanity saves a higher-up on Lula’s party from being kidnapped. Capoeira without ...

Brazil Stocks Sink Deep on Interest Rate Concerns

Latin America were heavily pressured by Brazilian losses, as investors returned yesterday’s gains and ...

Lula Calls on Ahmadinejad to Respect Diversity and Stop Financing Extremists

Brazilian president Luiz Inácio Lula da Silva called today, November 23, on his Iranian ...