In Minas Gerais, Brazil, Exports and Imports Are Down 30% from Last Year

Minas Gerais, a state in southeastern Brazil saw its exports grow 22.9% in June in comparison with May and totaled US$ 1.63 billion. This was the second best result achieved this year by the state, which answered to 11.2% of total Brazilian exports, according to figures supplied by Central Exportaminas, an organization linked to the State Secretariat for Economic Development.

In comparison with June last year, exports from the state of Minas decreased by 29.9%. In the accumulated result this year, Minas Gerais has exported the equivalent to US$ 9 billion.

There was a 14.8% reduction over the same period of 2008. The rate of reduction, however, was lower than that of overall exports from Brazil, which decreased by 22.8%. Minas Gerais ranks among the five Brazilian states that export the most to the Arabs.

"An improvement in foreign trade in the state is expected in the second half of this year, despite the falling price of iron ores and steel products. The expectation is a result of the recovery signs that the world economy has been showing," said the director of Central Exportaminas, Jorge Oliveira.

This year, according to Oliveira, the rate of reduction in exports from Minas will be much lower than the national rate.

Imports in the state of Minas Gerais are decreasing as well. In the first half of this year, Minas Gerais purchased 28.4% less from foreign countries than in the same period of last year, with imports totaling US$ 3.14 billion.

In June, imports decreased 28.2% in comparison with June 2008, having totaled US$ 623.7 million. A trade surplus of US$ 1 billion was recorded. Bilateral trade in the state saw a reduction of 29.5% in June, compared with the same month of 2008.

Anba