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:

You May Also Like

Brazil’s Primary Surplus Stays Below the 3.1% Target at 2.78% of GDP

Brazil’s so-called consolidated public sector, that is, federal, state and municipal governments, had a ...

Brazil’s Landless Want More than Just Land

Brazil’s landless movement, known as the Movimento dos Sem Terra (MST), is on the ...

Brazil and U.S. Committed to Rule of Law

In June of 2003, Brazilian President Luiz Inácio Lula da Silva and U.S. President ...

Brazilians Approve of Lula’s Continuing Interference in Government

Public opinion support by Brazilians of the president of Brazil, Dilma Rousseff, has climbed ...

Four Brazilian Cardinals Will Vote for New Pope

Of the four Brazilian cardinals eligible to vote in the college which will choose ...

Market Expecting Higher Inflation for Brazil in 2006

Expectations for inflation this year in Brazil were raised slightly in the past week, ...

Brazil’s Oscar Nominee Is Rags to Riches Tale

The film Dois Filhos de Francisco (Francisco’s Two Sons), directed by Breno Silveira, will ...

Brazilian exports

Brazil Exports Start Month with a Bang

In just one business day this month, which was Friday last week, Brazilian exports ...

Sweeping Changes in Brazil on How Oil Riches Are Spread

Brazil is set to unveil today, August 31st, a sweeping reform of regulations covering ...

Coca-Cola’s Dirty Little War in Brazil

Says Laerte Codonho, president of Dolly Soda, a Coke competitor in Brazil: "All I ...