Brazil’s Surplus Reaches US$ 18 Billion This Year, a 37% Decline

Gol, from Brazil Volkswagen The Brazilian trade surplus (exports minus imports) reached US$ 1.257 billion in the second week of September, as a result of US$ 5.073 billion in foreign sales and US$ 3.816 billion in foreign purchases.

So far this month, the surplus has reached US$ 1.552 billion, with exports of US$ 9.626 billion and imports of US$ 8.074 billion. The figures were supplied by the Brazilian Ministry of Development, Industry and Foreign Trade.

In the accumulated result for the year so far, exports total to US$ 140.469 billion and imports, US$ 122.010. Trade surplus stood at US$ 18.459 billion, a figure 36.6% lower than recorded in the same period last year (US$ 29.127 billion).

Volkswagen Investment

Volkswagen Trucks and Buses aims to invest 1 billion reais (US$ 558.2 million) until 2012. The announcement was made September 15 by the president of the auto manufacturer, Roberto Cortes, during the inauguration of the Logistics Center of Volkswagen Trucks and Buses, in the city of Resende, in the south of the state of Rio de Janeiro.

The investment plan, according to the director, allocates two thirds of the sum to new products, and 200 million reais (US$ 111.6 million) for upgrading the production process. According to him, the 36 million reais (US$ 20 million) spent on the logistics center are part of the company's investment cycle.

Cortes stated that the good performance of the Brazilian and global economies and rising demand enabled a 36% growth in vehicle sales by Volkswagen Trucks and Buses, compared with last year.

"Until the end of 2008, the forecast is that the company should reach the sales mark of 60,000 units," stated the president. Currently, the company holds a 30% share of the domestic market.

Tags:

  • Show Comments (1)

  • AES

    Brazil has wisely purchased machinery and other capital goods, while the Real was strong. This was the time to buy.

Your email address will not be published.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

Minister: Brazil’s Uranium Not for Sale

In response to news that Brazil will be soon selling uranium to China, Brazilian ...

Brazil Gearing Up for 2005

The Brazilian industries plan to invest more in 2005. According to a research disclosed ...

Happy Days of Grapes and Wine at Brazil’s Sí£o Francisco Valley

The São Francisco River Valley, in the Northeast region of Brazil, is considered one ...

Putin in Brazil for Russia’s WTO Ambitions

Although a number of memorandums will be signed in various areas, the main objective ...

Brazil Says Stopping WTO Talks Wasn’t Their Decision

Negotiations among four key World Trade Organization (WTO) governments over a new global agreement ...

Brazil Has Plenty of Water But 45% of Brazilians Have None

Brazil’s situation is privileged and worrisome at the same time, in the opinion of ...

Brazilian Indy racer Tony Kanaan

The Smart Money Is on Brazilians Again This Sunday’s Indy 500

Nearly a week has passed since Roberto Moreno found new speed, a day after ...

Spain Pitches In for Brazil’s Zero Hunger

The Spanish International Cooperation Agency is in the final phase of evaluating a project ...

Brazil Plans Infrastructure Works to Generate 2 Million New Jobs

Brazil will invest heavily in infrastructure this year, which will help create jobs and ...

Biofuel World Leader ADM to Build Biodiesel Plant in Brazil

US-based Archer Daniels Midland Company will build a biodiesel production facility in Rondonópolis, Mato ...