Foreign Investment in Brazil More than Doubles to US$ 31 Billion

Brazzil Magazine covers

Dollar and foreign currency The Brazilian Central Bank disclosed this Wednesday, November 28, that Foreign direct investment (FDI) in Brazil totaled US$ 31.2 billion from January to October this year, against US$ 13.6 billion recorded in the same period of last year. This is the best result ever recorded for the period since 1947, when the historical series was initiated, says the bank.

In October alone, FDI inflow stood at US$ 3.2 billion and, according to the head at the Economic Department of the Central Bank, Altamir Lopes, so far in November another US$ 2.2 billion have been invested, driving the total for the year up to US$ 33.4 billion, which already surpasses the highest annual value ever recorded: US$ 32.7 billion, recorded in 2000.

According to Lopes, until the end of the year, FDI inflow should reach US$ 35 billion. The official forecast of the Central Bank was US$ 32 billion. Last year, US$ 18.8 billion in foreign direct investment entered the country.

Surplus

The Brazilian balance of payments, which consists of all commercial and financial transactions with foreign countries, recorded a US$ 4.252 surplus in October, and a US$ 77.996 billion surplus in the accumulated result for the year. During the equivalent periods of last year, the figures recorded were US$ 4.683 billion and US$ 23.510 billion, respectively.

The current account surplus – which includes the balance of trade, services and income, and unilateral transfers – posted a US$ 42 million deficit in October, against a US$ 471 million surplus recorded in September this year. The data were culled from the Foreign Sector report, published by the Brazilian Central Bank.

In the whole of the year, the account accumulates a surplus of US$ 5.597 billion, against US$ 11.789 billion recorded in the same period of last year. The projection of the Central Bank for this year is for the current account surplus to reach US$ 7.8 billion.

The balance of trade recorded a US$ 3.439 billion surplus in October, and a US$ 34,377 billion surplus in the accumulated result for the year; the incomes and services account closed at a US$ 3.785 billion deficit in October; unilateral current transferences posted a US$ 304 million surplus, and in the accumulated result for the year, a US$ 3,323 billion surplus.

Foreign direct investments stood at US$ 3.188 billion in October, and in the accumulated result for the year, at US$ 31.2 billion. The forecast for this year is for the total to reach US$ 32 billion. During the same period of 2006, direct investments totaled US$ 13.628 billion, and in the whole of the year, US$ 18.782 billion.

Foreign reserves reached US$ 167.867 billion in October, against US$ 162.962 in September this year.

ABr/Anba

Tags:

You May Also Like

Brazzil Magazine covers

Brazil Has Been Dazzling in World Cups Since Leônidas in 1938

Whenever the Soccer World Cup is mentioned, the mind is boggled by moments of ...

Brazzil Magazine covers

Tupi or not Tupi or Only Cannibalism Unites Us Brazilians

“Every Brazilian, even the light skinned fair haired one carries about him on his ...

Brazzil Magazine covers

A Brazilian Amazon’s Company Goes International with Gpower Guaraná

Brazilian company Guaranamazon, a maker of organic products from guaraná, the most Brazilian of ...

Brazzil Magazine covers

All Things Considered Soybean Is Still Gold for Brazilian Farmers

Despite growing pest problems and soaring fertilizer and transport costs Brazil’s soybean farmers will ...

Brazzil Magazine covers

Half of Brazilians Favor (Unconstitutional) Third Mandate for President Lula

In Brazil public opinion is split almost in half on the re-election of Brazilian ...

Brazzil Magazine covers

Brazil Gets Ready to Sell Japan 20 Million Liters of Ethanol

Petrobras and Nippon Alcohol Hanbai signed a contract, Monday, December 20, creating the Brazil-Japan ...