Brazil Expecting to Increase Its Exports in 2011 by 12%, Well Above the World Average

    Corn container in Brazil

    Corn container in Brazil In a repeat performance even though not as quite as strong following the 2010 30% expansion, exports from Brazil are forecasted to grow 12%, in 2011 according to the Brazilian Foreign Trade Secretary Weber Barral. In 2010 the recovery was quite strong, he says, compared to the downturn of 2009, but in 2011 global trade growth rate is expected to slow down. 

    Nevertheless, “Brazilian exports are expected to continue advancing at a higher rate than the world average; we are targeting 12% against 9% for the rest of the world,” said Barral.

    If forecasts come true Brazilian exports in 2011 should reach US$ 220 billion in 2011, above the US$ 198 billion 2008 record that should be matched this year since with two weeks left, sales overseas total US$ 192.5 billion.

    Barral said that since world exports are forecasted to grow 19% this year, the Brazilian share of global trade should increase from the current 1.26% to 1.3% this year. However “2011 promises to be a difficult year, with tough competition we have a duty to advance in the access of markets,” said Barral.

    The Brazilian official also said that the was hopeful that next year trade agreements with the European Union and Mexico could advance significantly, but also underlined that many times a sanitary agreement can have “better results than a trade agreement” strictly speaking.

    Barral also mentioned the importance of Argentina for Brazilian foreign trade, rapidly becoming the second partner, ahead of the United States and only behind China.

    The official admitted that Brazilian foreign trade needs to correct some domestic issues before putting all the blame on the “foreign exchange” difficulty which has sustainedly appreciated the Brazilian currency. “Before blaming others and asking for more protectionist measures, we must look for our mistakes,” he suggested.

    Even with a sustained increase in imports, which in 2010 will accumulate a 42% expansion, Barral estimates the trade surplus to reach 16 billion USD in 2011, similar to what happened this year.

    However the current account deficit in November, US$ 4.7 billion was the largest historically for the month. The previous record dates back to November 2009 with a deficit of US$ 3.3 billion. The accumulated for the year adds to US$ 43.5 billion compared to US$ 18.4 billion in the same period of 2009.

    Mercopress

    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

    Odd Bedfellows

    Looking at the range of Lula’s backers one cannot help recalling Robert Browning’s poem ...

    World Oil Prices and US Interests Send Brazilian Stocks Down

    Brazilian stocks an those of Latin American retreated, as investors continued cashing in recent ...

    Brazil’s Bebel Back and Bouncy

    One needs to listen to no more than a few verses of Bebel Gilberto’s ...

    Brazil’s Perdigí£o Has Record 139% Hike in Profit in 2004

    Brazil’s Perdigão S.A., one of the largest food companies in Latin America and one ...

    A new era of gold in the making

    Despite its gold-rich soil Brazil was never capable of exploring the country’s gold reserves ...

    Brazil Sees an Explosion of Recycled Jewelry and Eco-Friendly Designers

    Brazilians represent all that’s romantic and carefree in our stressed world. This freedom of ...

    Brazil and Argentina Ban US Dollar in Their Trade Transactions

    Mercosur’s leading members Argentina and Brazil have agreed on a pilot Project to eliminate ...

    How Brazil Is Trying to Prevent Bird Flu

    Brazil’s federal government is preparing a preventive action plan to ward off possible threats ...

    Calendar

    To understand Brazil’s rural unionism, we need to distinguish among the movement’s four different ...