Brazil’s US$ 5 Billion Deficit After Brazilians Go on a Shopping Spree Overseas

São Paulo, Brazil, Cumbica international airport In July, the month of school holidays, expenditures by Brazilians in foreign countries totaled US$ 1.104 billion up until today July 28. Disbursements by foreigners in Brazil, on the other hand, reached only US$ 393 million.

In the face of these two results, the balance of trips is running a deficit of US$ 711 million, according to preliminary figures supplied by the Central Bank of Brazil. The dollar, which is depreciated against the Brazilian currency, favors foreign trips.

In June, the balance of trips (expenditures by Brazilians abroad, minus expenditures by foreigners in Brazil) remained negative at US$ 621 million. Revenues totaled US$ 426 million, and expenditures, US$ 1.047 billion.

In the first half of the year, the balance of trips remained negative at US$ 2.635 billion. Revenues totaled US$ 2.899 billion, and expenditures, US$ 5.534 billion.

In the accumulated result for the 12-month period ending last June, the deficit in the balance of trips stood at US$ 4.833 billion. The results recorded in the six-month and twelve-month periods are the highest ever in the historical series initiated in 1947.

In the 12-month period, revenues from the balance of trips totaled US$ 5.416 billion, and expenditures by Brazilians in foreign countries totaled US$ 10.250 billion.

ABr

Tags:

You May Also Like

Brazil Is Back to Black on Foreign Trade

Trade surplus in Brazil hit US$ 1.7 billion in February, up from a US$ ...

The Rich Also Get Arrested in Brazil, But Only the Poor Go to Jail

I have friends who feel proud that they were handcuffed because of their ideas. ...

Brazil’s Lula Wants Urgent ‘Democratization’ of the UN

Brazilian President Luiz Inácio Lula da Silva said that the participation of developing countries ...

Brazil Opens Fair Season with LatAm’s Largest Shoe and Fashion Trade Show

Francal, the largest fair of shoes, fashion accessories, machinery and components of Latin America, ...

Brazil to Grow a Mere 2.3% in 2005, Says IPEA

Latin American markets gained ground, with Brazilian stocks posting the biggest gains on hopes ...

Thanks to Russia and the US Brazilian Beef Exports Grow 18%

Brazil exported a total of US$ 3.3 billion in beef from January to September ...

Vargas: Haunting Brazil, 50 Years Later

Brazilian President Lula and his Workers Party may well owe their beginnings to Getúlio ...

Brazil Court Maintains One Year Sentence Against Professor for Defamation

Brazilian Professor Emir Sader was sentenced in October 2006 to one year in prison ...

New WTO Rules Mean More Brazil Fruit Juices Overseas

This week, the Codex Alimentarius, an international forum, which deals with food quality and ...

How China Fits into Brazil’s Plans

With an eye on China’s voluminous foreign reserves, Brazil hopes to attract investment in ...