Brazil Exports Grow 16%, Way Over World’s Average, But Still 1% of Global Trade

3M in Brazil Brazilian exports expansion coupled with the growth in exports caused by the depreciation of the dollar, should place Brazil among the countries with the greatest participation in foreign trade. The assessment was made by the executive secretary at the Brazilian Ministry of Development, Industry and Foreign Trade, Ivan Ramalho.

According to Ramalho, the assessment is based on the figures of the Brazilian balance of trade. Even in the face of the depreciation of the dollar, from January to November, exports totaled US$ 146.4 billion, which is 16.1% more than recorded in the same period of 2006, and higher than the global average rate, of approximately 10%. Imports surpassed US$ 110 billion, 30.2% more than last year.

The depreciation of the United States currency against the Brazilian real, says the executive, did not harm Brazilian exports. He states that, judging from accounts by industry members, concern regarding the dollar is more visible in fields that employ a larger workforce, such as shoes, textiles and furniture.

Even in those sectors, asserts Ramalho, the dollar value lower than 2 Brazilian reais is forcing companies to seek alternatives so as to maintain their presence in captive markets abroad. "One good example is shoes, for which imports this year grew 11%, i.e., despite the problems, the sector's sales to foreign countries continue to expand," he says.

Among the products for which sales increased above the international average, the secretary highlights transport material (15%), steel (14%), soy (22%), ores (23%), chemicals (22%), machinery, equipment and capital goods (14%), and pulp and paper (17%).

Last year, Brazil ranked 24th in global exports and 27th in global imports. Despite the growth compared with 2005, when the country climbed one position in each ranking, the Brazilian share in international trade is still small. According to the World Trade Organization (WTO), Brazil answered to just 1.1% of global exports and 0.8% of global imports.

Petrobras

Brazilian state-controlled oil company Petrobras announced this Wednesday, December 26, an all-time high oil production, at 2,000,238 barrels per day. The result, attained on Tuesday, Christmas Day, was possible due to six new platforms that became operational this year, and which produced 590,000 barrels per day.

The last platform to start functioning, the P-54, began operating on December 11, in the field of Roncador, in the Campos Basin (in the southeastern Brazilian state of Rio de Janeiro), and already boasts a daily output of 45,000 barrels per day, with a forecasted output of 180,000 barrels per day in late 2008. The previous record high was 1,912,000 barrels, in October 2006.

The launch of four other platforms is scheduled for 2008, three of them for oil, in the Campos Basin, and one for gas, in the southeastern Brazilian state of Espí­rito Santo.

The Campos Basin will see entry into operation of the P-51, with a production capacity for 180,000 barrels per day, the P-53, with equal production capacity; and the FPSO Cidade de Niterói, which should produce 100,000 barrels per day.

The Espí­rito Santo Basin will see entry into operation of FPSO Cidade de São Mateus, designed to produce 10 million cubic meters of gas per day. Petrobras extracts over 80% of its production from offshore fields, whereas onshore production is 230,000 barrels per day.

ABr

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