The sum total of Brazilians’ assets abroad (personal and corporate assets, including cash, loans, merchandise, real estate, and investments) attained US$ 94.7 billion in 2004, a 14.6% increase over the US$ 82.6 billion registered in 2003.
These figures come from the report, “Preliminary Results – Brazilian Capital Abroad,” released yesterday, June 20, by Brazil’s Central Bank (BC).
The study was based on declarations of foreign investments for the calendar year 2004. The deadline for filing this declaration is June 31. The complete results will be announced in the second half of the year.
According to the head of the BC’s Department of Foreign Capital and Currency Exchange, Sidinei Corrêa Marques, the study shows that the country is increasing its participation abroad and that the Brazilian economy is becoming more internationalized with each passing year.
74% (US$ 70.6 billion) of Brazilians’ foreign assets are the result of direct investments (purchases of shares of foreign companies or investments in branches or new offices).
Nevertheless, the item that exhibited the greatest year-to-year growth was portfolio investments abroad (stocks, certificates of deposit, and government bonds), in which Brazilians invested US$ 8.2 billion, 38% more than in 2004 (US$ 5.9 billion).
The number of individuals who filed declarations of foreign investments also rose, 6.2%, from 8.9 thousand in 2003 to 9.4 thousand in 2004.
On the other hand, the number of legal entities filing declarations declined 3.8%, from 1.7 thousand in 2003 to 1.6 thousand in 2004.
The declaration was mandatory for legal entities and individuals residing in Brazil or having a domicile or headquarters in Brazil and possessing any kind of foreign assets worth US$ 100 thousand or more in the calendar year 2004.
ABr – www.radiobras.gov.br