Job Market Grows 5% in Brazil

Brazil industry The real growth in revenues of the Brazilian industry in February increased 1.5% compared with January. It was the highest growth rate since July last year. Hours worked increased 1.8%.

According to Brazil's National Confederation of Industries (CNI), the expansion of industrial activity is being accompanied by creation of new job positions. In the first two months this year, job vacancies grew 5%, in comparison with the same period of 2007.

According to the Industrial Indicators disclosed on April 3 the use of the sectors' installed capacity went from 83.1% in January to 82.9% in February. According to the CNI technicians the result shows that production capacity grew, "as a consequence of the maturing of investment made over the course of 2007."

Capital Goods

The growth of imports at a higher rate than exports in Brazil is mostly due to purchases of machinery and equipment – which indicates that industries are benefiting from the value of the dollar, currently worth approximately 1.70 Brazilian reais, to expand their production capacity. This according to Brazil's Foreign Trade secretary at the Ministry of Development, Welber Barral.

Average daily purchase of capital goods increased 69.7% last month compared with March last year, up from US$ 91.2 million to US$ 154.7 million. During the same period, the daily import average rose from US$ 435.6 million to US$ 580.1 million, growth of 33.2%.

Despite being influenced by automobiles for which average daily imports grew 76.6% in a 12-month period, purchases of consumer goods grew at a lower rate than those of machinery. Average daily imports of consumer goods grew 32.4%, from US$ 61.3 million to US$ 81.2 million. The volume represents less than half the growth in purchases of capital goods.

To Barral, the results show that Brazil is taking advantage of the moment, which is favorable to imports, in order to invest in expanding domestic production. "Ever since imports started to rise, purchases of capital goods have been increasing by more than 50% compared with the same month of the previous year," he claimed.

Wheat Expansion

Brazil plans to increase wheat production to 7.1 million tons up to 2012. The intention is for national production to answer to 60% of consumption. The proposal is part of the Five Year Plan for Support to Wheat Farming, which is being discussed by representatives of the wheat sector productive chain and of the government.

The theme was discussed at the 18th ordinary meeting of the Sector Chamber of the Productive Chain of Winter Cultures, which took place on April 1st in Brazilian capital Brasí­lia.

According to the Trade and Supply director at the Agricultural Policy Secretariat at the Ministry of Agriculture, Livestock and Supply, José Maria dos Anjos, the measures proposed to increase the volume of wheat production should dampen the demand for imports.

Last year Brazil imported around 6.6 million tons, mainly from Argentina. Another theme discussed at the meeting was the establishment of a hub for production of wheat in the country, to contribute to expansion of the crop, mainly in the case of irrigated wheat.

ABr

Tags:

Ads

You May Also Like

Vale Buys for US$ 3.8 Billion Bunge’s Fertilizer Operation in Brazil

Brazil’s mining company Vale and multinational company Bunge announced the signing of an agreement ...

Can Lula End Hunger?

John FitzpatrickBy John Fitzpatrick The beaming, benevolent face of Luiz Inácio Lula da Silva ...

US Commerce Secretary Decries Hostile Business Environment in Brazil

According to U.S. Commerce Secretary, Carlos Gutierrez, a general agreement on global trade liberalization ...

Brazil-Arab Trade Basket Has Grown to 1901 Items

After reaching record revenues of US$ 5.2 billion last year, Brazilian exports to the ...

Brazil Happy with Government’s Farm Insurance Programs

Brazil’s Minister of Agrarian Development, Miguel Rossetto, says that two Luiz Inácio Lula da ...

The Case for Federal Intervention in Brasília. Would It Make Any Difference?

On April 21, Brazilian capital Brasília will celebrate its 50th anniversary. A question on ...

Biojewels Are Not Just for Brazilians Anymore

With talent and creativity, artisan Jander Cabral, 34 years old, transforms seeds, shells and ...

Brazil Stocks Fall. Blame It on China!

Brazil stocks declined this Thursday, following word that China hiked interest rates. The People’s ...

Brazil to the Rescue of Meatpacking Sector with US$ 5 Billion

Brazil will offer a ten billion reais credit line from BNDES, the National Development ...

The Pataxó Front

"It is not an easy task to deal with gunmen and recover what we ...