• Categories
  • Archives

The U.S. and Exchange Rates Do Not Scare Brazilian Exporters

Brazilian exports are going to rise despite seasonal factors like exchange rates and the growth of the North American economy. The forecast was made on April 8 by Brazil’s Minister of Development, Industry and Foreign Trade, Luiz Fernando Furlan.

The Brazilian Minister was participating in a debate with businessmen from the Center of Industries of the State of São Paulo (Ciesp), regarding policies and actions of the Ministry he commands.


The Minister commented on the set of proposals that businessmen in the export sector sent to the Federal Government, among them a request for the continuation of purchases of dollars.


To Furlan, the proposal is based on strong fundaments and may be executed. The Brazilian real has been appreciating against the dollar since the end of last year, and this has generated complaints from domestic exporters.


However, it is not only the Ministry that has been stating that it is possible to keep Brazilian exports high despite the exchange rates.


“Brazilian exports are breaking records, reaching the figure of US$ 10 billion per month. This means that (the trade balance) is maintaining a surplus and that it no longer depends on exchange rates,” stated foreign trade specialist Joseph Tutundjian.


Last year, when the Brazilian currency started appreciating against the United States dollar, many exporters forecasted drastic reductions in foreign sales, as the country had been presenting significant results in this area.


Export revenues reached US$ 96.4 billion in 2004, a 32% increase over the total for 2003, which was US$ 73 billion. The surplus also reached US$ 33 billion, presenting 36% growth over the result for the previous year.


At the beginning of this year, minister Furlan forecasted exports of US$ 108 billion, which represented 12% growth over 2004. With the good performance in the first months, however, the government has recalculated its estimates and is forecasting US$ 112 billion.


The accumulated result up to the first week of April this year shows exports of US$ 25 billion and a surplus of US$ 8.612 billion. In the first quarter, exports grew 25.7%.


Anba

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Your email address will not be published.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

Brazilian President Accuses Israel of Carrying Out a Massacre in Gaza

Brazilian president Dilma Rousseff hits Israel hard calling the country responsible for carrying out ...

Impeachment Act: The Brazilian Plot to Keep Corruption and Impunity Going

The already fragile legitimacy of Michel Temer’s interim government in Brazil took a huge ...

Short story

  Two friends and a bore   Os dois estavam tomando um cafezinho no ...

Meet Ms. Vasconcelos, a Brazilian Fashion Broker

The Brazilian businesswoman from Minas Gerais, a state in the southeastern region of the ...

For Brazil WTO Negotiations Will Go Nowhere Without Political Spur

The Brazilian Minister of Foreign Relations, Celso Amorim, said, Wednesday, January 4, that a ...

Drought Cuts Brazil’s Grain Crop in 10%

Brazil’s grain crop this year is expected to decline 10% compared with last year’s ...

Brazil’s Petrobras Pushes Past Microsoft to Become Third in the Americas

Brazil's state-controlled oil multinational Petrobras has overcome Microsoft to become the third largest company ...

Tongue Twister

Despite all the shortcomings — unprepared instructors, and lack of labs and multimedia equipment, ...

Brazilian Airlines TAM and Gol Stocks Sink Together with Bankrupt Varig

Latin American stocks were mixed, with Brazilian shares in a slump, Mexico slightly higher ...

RAPIDINHAS

She has charmed the President of Brazil and Michael Jackson with her cooking. Hollywood ...