Brazil’s Balances of Trade and Travel Post Deficit

Cumbica International Airport in São Paulo, Brazil The Brazilian balance of trade posted a negative balance once again. According to figures disclosed today, April 28, by the Brazilian Ministry of Development, Industry and Foreign Trade, during the fourth week of April, between the 21st and 27th, Brazilian imports surpassed exports by US$ 88 million.

It was the fourth week in which a deficit was recorded this year, the first having been in February and two others in March.

In the accumulated result for the year so far, the balance of trade surplus, of US$ 4.170 billion, is 66.5% lower than in the same period of 2007, when it stood at US$ 12.771 billion.

In the fourth week of April, exports (sales) totaled US$ 2.761 billion and imports (purchases) at US$ 2.849 billion. Growth of 4.9% and of 39.9%, respectively, compared with April 2006. The monthly surplus rose to US$ 1.333 billion, and in the accumulated surplus for the year reached US$ 4.170 billion.

Between January and the fourth week of April, imports grew at a much higher rate than exports. Whereas in the average per business there was a 43.5% rise in imports, exports only grew 12.9%.

Meanwhile, Brazilian tourists keep spending more and more overseas.  According to data reported today by the Brazilian Central Bank, Brazilians' expenditures abroad reached US$ 751 million in March, a 44.1% increase when compared to the same month last year.

In the first three months of this year the value came to US$ 2.538 billion, well above the US$ 1.594 billion reported during the same period in 2007.

The higher expenditures are due to a cheaper dollar, which made it less expensive to travel overseas. Part of this trend can also be attributed to better income among Brazilians.

On the other hand, foreign tourists in Brazil spent US$ 518 million in March, an increase of 19.4%. In the first quarter, foreigners have spent US$ 1.608 billion. During the same period in 2007 they had spent US$ 1.332 billion.

These numbers show a negative balance for Brazil. While last year's deficit was US$ 87 million in March and US$ 262 million in the first quarter, these figures increased to US$ 233 million in March and US$ 930 million for the first three months of 2008.

ABr

Tags:

Ads

You May Also Like

Lula Urges Confidence for Brazil to Get New Markets

Beginning in June, typical Brazilian items, such as coffee and thongs, will be sold ...

Brazilian Industry Unhappy with Little Domestic Demand

The industrial activity registered in Brazil in April continued the upward trend initiated in ...

Use of Credit Card in Brazil Grows 20% and Reaches US$ 87.5 Billion

Brazil’s credit card market should have a turnover of US$ 87.5 billion this year, ...

Best-seller books, plays & movies

PLAYS Alice que Delícia — Written by Antônio Bivar and directed by Nildo Parente. ...

Brazil: Mercosur Parliament to Be Created in 2005

The agreement for the establishment of a Mercosur Parliament will be signed still this ...

How Brazil’s and LatAm’s Banks Weathered the Global Meltdown

Brazil's and Latin America's financial systems have passed the Financial Times magazine test. In ...

Lula Tells Obama Haiti’s UN Mission Led by Brazil Can’t Take Care of Everything

Brazilian President Luiz Inácio Lula da Silva has suggested today, January 18, to the ...

Brazilians in a New Jersey street festival

If I Were Brazilian I Might Also Become an Illegal in the US

I travel to Brazil often on business and most of my travels are in ...

Brazil’s Lula Meets Obama with an Eye on His Own Legacy

The visit of Brazil’s president to the White House on March 14, 2009, is ...

Navigating the Labyrinth of Brazil’s Petrobras Scandal

Since March 2014, Brazil has been shaken by the revelations from Operation Lava Jato ...