Brazil’s Trade Surplus Falls 64% in 2008 Due to Cheap Dollar

Imported machinery in Brazil Brazil's balance of trade (exports minus imports) ran a surplus of US$ 260 million in the third week this month, as a result of US$ 3.279 billion in exports and US$ 3.019 billion in imports. The surpluses recorded in the two other weeks this month were higher (US$ 842 million and US$ 319 million).

In the month of April, so far, the trade balance runs a surplus (US$ 1.421 billion) greater than the accumulated result posted in March this year, which was US$ 1.012 billion. In April, exports totaled US$ 8.985 billion and imports, US$ 7.564 billion.

In the 75 business days from January to April 20th, the Brazilian balance of trade recorded exports of US$ 47.675 billion and imports of US$ 43.417 billion.

The trade surplus this year stands at US$ 4.258 billion, a reduction of 63.6% in comparison with the same period of last year, which had 76 business days. Last year, exports during the period totaled US$ 42.490 billion and imports, US$ 30.768 billion.

The lower trade surplus is a consequence of imports at a higher rate than exports. This happens because of the depreciation of the dollar in Brazil, which encourages purchases of machinery and equipment from foreign countries. Furthermore, the higher income of the Brazilian population favors purchases of imported products.

According to the press office at the Brazilian Ministry of Development, Industry and Foreign Trade, the effects of the tax auditors' strike on the balance of trade result are only going to be disclosed in early May, when the figures for the entire month of April should be disclosed.

According to the Focus bulletin, published on a weekly basis by the Brazilian Central Bank, the balance of trade surplus projection of market analysts for the entire year has decreased from US$ 25.30 billion to US$ 25 billion.

ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Social Activism Makes Brazil’s Petrobras Member of UN Committee

Petrobras, the first and only Latin American company that is a member of the ...

Boeing Gives Brazil’s Moribund Varig a Break

Varig, Brazil-based airline, announced this Wednesday, January 4, in Rio de Janeiro, the closing ...

From Cradle to Grave Brazilian Blacks Have it Tougher

The Brazilian Racial Atlas, launched yesterday, December 1st, demonstrates that racial inequality still exists ...

Brazil Dedicates a Day to Solidarity with Palestinians

Brazilians expressed their solidarity, yesterday, November 29, to the people of Palestine, an Arab ...

Brazil: Fighting Inflation Is Job One

Antônio Palocci, the Brazilian Finance Minister is very happy with the Brazilian Central Bank, ...

Ethanol pump in Brazil

84% of Cars Sold in Brazil Run on Ethanol, Gasoline, or Both

Flex-fuel vehicles, with technology that enables them to be fueled with alcohol, gasoline, or ...

China Overcomes US and Becomes Brazil’s Number One Trade Partner

Brazilian Ministry of Development, Industry and Foreign Trade’s just released final, revised report on ...

With and Eye to the US Market Brazil’s Glasart Reinvents Household Accessories

Mirrors with typical Brazilian adornments, such as buriti straw and banana tree fibre, aimed ...