• Categories
  • Archives

Brazil Increases Export Target 26% to US$ 202 Billion

Brazilian trucks Brazil has revised its export target for this year to US$ 202 billion, according to information disclosed by the Brazilian Ministry of Development, Industry and Foreign Trade. The previous target, established in July this year, was US$ 190 billion. Elevation represents growth of 25.7% over last year.

"This is an ambitious target, as we hope that the average of exports from September to December is higher than that of the last four months," stated the executive foreign trade secretary at the Ministry of Development, Industry and Foreign Trade, Welber Barral.

From January to August, the export average was US$ 16.84 billion and the forecast for the period from September to December is US$ 17.78 billion.

Among the factors that caused the government of Brazil to increase the target are the modification of commodity prices (basic products traded on the international market), with some prices having increased in comparison with 2007 – like, for example, industrialized beef – and also greater exports of higher value added products, like 3G mobile phones.

With regard to the possibility of the crisis in the United States affecting Brazilian exports this year, Barral said that the effect should be practically null, as a large part of the export contracts is already closed. He pointed out, however, that in the long run it may represent a reduction in demand.

"A very serious crisis in the United States will not only affect the commercial partners in Latin America, which are more dependant, as is the case with Mexico, but also other great economies, like the European and the Chinese. This may generate lower demand for some products and lower Brazilian exports," he explained.

According to Barral, other factors justifying the small effect of the crisis on exports would be the lower dependency of Brazil on trade with the United States and the diversification of the exports to that country.

Barral recalled that from January to August last year, Brazil exported US$ 16.3 billion to the United States, whereas in the same period this year, foreign sales totaled US$ 18.4 billion, representing growth of 14%. In the same comparison, trade with the European Union rose 25.8%.

The secretary did not comment on the target for next year. He limited himself to saying that, to establish this target, the Ministry is going to take into consideration factors like the import forecasts, exchange rates and economic growth of the market.

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

Brazil Gets Ready to Grapple with Bird Flu

The government of the southeastern Brazilian state of São Paulo announced Tuesday, October 25, ...

Brazil Charged with Human Rights Violations in Washington, DC

The Inter-American Commission on Human Rights, of the Organization of American States (OAS), held ...

Oil Prices Scare Brazilian Investors

Brazilian and Latin American markets declined alongside considerable weakness in U.S. markets. Crude oil ...

ExcelAire Says It’s Too Early to Blame It for Brazilian Air Tragedy

New-York based air-taxi company ExcelAire, which had kept silent, while the world raged outside ...

Law Not Enough to Solve Brazil Kids’ Plight

The United Nations Committee on Children’s Rights says that Brazil has made progress in ...

Split, the Brazilian Left Is in Search of Answers

Brazil’s left wing political spectrum is split in three distinct groups. Today, the PSOL ...

Brazil’s Foreign Trade Surplus Grows 30% in Semester to US$ 22.712 Billion

Brazilian exports yielded US$ 2.001 billion on the fourth week of July and imports, ...

Is The Church Ready for a Brazilian Pope?

Brazil is the country with more catholics in the world, with a population of ...

Brazil’s Coconut Water Coming to a Store Near You

The Brazilian coconut water market is around 600 million liters a year. The development ...