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.

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