Brazil’s Foreign Trade Hits Record High

    Brazil’s secretary of Foreign Commerce at the Ministry of Development, Ivan Ramalho, reports that August exports of US$ 9.056 billion and imports of US$ 5.623 billion were both records for the month.

    It was also the third consecutive month that Brazilian exports topped US$ 9 billion. As for imports, the August total was the biggest of the year.

    For the twelve-month period ending in August, Brazil has exported US$ 88.928 billion and imported US$ 57.309 billion, for total trade of US$ 146.237 billion, a;so a record for a twelve-month period.

    Brazil’s main exports were what they have been for some time: automobiles, aircraft, vehicle motors, soybeans, iron ore, petroleum and cast iron.


    However, there were signs of diversification as machinery for the food industry and woodwork, among others, were also strong.

    Export destinations showed some changes. Exports to the Middle East were up over 95% (compared to August 2003) and almost 60% to Mercosur, for example, with significant increases to Tanzania, Cameroon and North Korea, as well.


    As for traditional trade partners, exports were also up. A total of US$ 1.8 billion was exported to the US (up 24%), Argentina US$ 687 million (up 65%) and China US$ 518 million (up 24%).

    Imports were up in all categories, compared to August 2003, especially capital goods, rising 42%.

    “The numbers show greater domestic demand for both consumer goods and productive machinery,” says Ramalho, explaining that they indicate investments in the productive sector which will drive economic recovery.

    Agência Brasil
    Reporter: Daniel Lima
    Translator: Allen Bennett

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