Brazilian Imports Grow 28%, Almost Double Exports Growth

Brazil Import The Brazilian Ministry of Development, Industry and Foreign Trade disclosed this Monday, September 3, the balance of trade figures for the month of August, and for the first eight months of the year. The survey shows that imports are growing at a higher rate than that of exports.

In the first eight months of the year, exports rose by 15.9%, to stand at US$ 102.4 billion. Imports, on the other hand, grew by 27.8%, to reach US$ 74.9 billion.

Therefore, the accumulated trade surplus (exports minus imports) from January until August increased to US$ 27.5 billion, a 7.51% reduction compared with the US$ 29.7 billion recorded during the same period of 2006.

In the month of August, imports also grew proportionally more than exports, despite the fact that the two sectors have reached new record highs. Foreign sales stood at US$ 15.1 billion, an increase of 6.94% over the previous month. Imports were also the highest this year, at a monthly volume of US$ 11.5 billion and an increase of 7.36% over the month of July.

The trade balance surplus for August stood at US$ 3.535 billion – 5.61% more than in the previous month, but 22.37% less than recorded in August last year.

Wheat Production Doubles

The Brazilian wheat production should double this year, to reach four million tons. The forecast was made last week, during a meeting of the Sector Chamber for the Production Chain of Winter Crops, in the city of Esteio, in the southern Brazilian state of Rio Grande do Sul. The Chamber is comprised of government officials and representatives of the Brazilian production sector in the field.

"The agricultural policy adopted by the government has encouraged farmers. We believe that the Brazilian production will reach four thousand tons, the equivalent of 40% of domestic consumption," said the executive secretary at the Chamber of Winter Crops, and general manager for Cereals and Annual Cultures at the Brazilian Ministry of Agriculture, Silvio Farnese.

To Farnese, the minimum price policy underway for 400 Brazilian reais (US$ 203) per tonne is another great stimulus to Brazilian wheat producers. "Another advantage for Brazilian wheat producers is the worldwide stabilization of production, which represents an increase in the price of the commodity that is also reflecting in the Brazilian market," he said.

ABr, Anba

Tags:

Ads

You May Also Like

Frederico Fleury Curado, new Embraer's CEO

Brazil’s Embraer Is Hiring 4,000 and Getting New President

Brazilian aircraft manufacturer Embraer is about to enter a new phase. Beginning on April ...

Brazil’s Lula Tells Military Not to Fear Witch Hunt But Yields to Their Pressure

He’s not promoting a “witch hunt” said the president of Brazil, Luiz Inácio Lula ...

Most of Brazil’s 3,400 Refugees are from Angola and Live in Sí£o Paulo

The UN High Commissioner for Refugees reports that there are 3,400 refugees in Brazil ...

Already a World Champion of High Interest Rates Brazil Ups Key Rate to 11.25%

Brazil’s National Industrial Confederation (CNI) called the decision to raise the country’s key interest ...

Spread of Soybean Culture Helps Denying Brazilian Indians Their Land

In the state of Mato Grosso, located in the west region of Brazil, there ...

France Examines and Discusses Brazilian Media

The Foreign Press Support Center, in Paris, is holding the 1st International Encounter on ...

Brazilian Police Burns 4 Tons of Cocaine and Marijuana

The Civil Police of the state of Rio Grande do Sul, in southern Brazil, ...

The Best Month in 48 Years for Brazil’s Auto Industry

Brazil’s automobile production in February, 2005, was the greatest for the month of February ...

Brazil’s Petrobras Vows to Keep Expanding and Spending Throughout the Continent

Brazilian government controlled oil and gas multinational Petrobras begins seismic surveying offshore Uruguay in ...

Brazil’s Lula Urges Israel and Palestine to Negotiate

Brazilian President Luiz Inácio Lula da Silva spent a good part of yesterday meeting ...