Nevertheless, the total export growth rate for the first seven months of the year, and for the last twelve months, are still noteworthy, at 19.3% and 26.3% respectively. The data were taken from Boletim Rio Exporta (Rio Exports Bulletin), of the Federation of Industries of the State of Rio de Janeiro (Firjan), which was disclosed recently.
The result for July does not imply that there has been a change in the trend of expansion in foreign sales, as it reflects the lower industrial oil production, in the second quarter of the year, due to operational setbacks in platforms at the Campos Basin.
Since June, production went back to normal, at a 7.84% increase over the same month of last year. Furthermore, in the second half of this year, the platforms P-52 and P-54, Piranema and Cidade Vitória, will become operational, and should reach maximum activity in 2008.
Oil accounts for 58.2% of the state's export basket, and exports of the commodity have yielded US$ 7.3 billion in the last 12 months, an increase of 45.2% in comparison with the previous period. In the month of July, though, foreign sales of the commodity decreased by 9.6% over the same month of 2006. Exports that grew the most in July were those of machinery and equipment, and of steel laminates.
Imports, on the other hand, driven up by the appreciation of the real (Brazilian currency) and the heating of domestic demand, increased by 34.7% over July 2006, to reach a record high in the historical series, in July, at US$ 959 million.
With the exception of the steel and iron industry, which sold 62.4% less in the same basis of comparison, all of the remaining industries have recorded increases in exports, the highlights being the extraction and chemical industries. Its imports grew by 73.1% and 70.6% respectively.
In the first seven months of this year, the state of Rio imported the equivalent of US$ 5.11 billion. In the last 12 months, foreign purchases totaled US$ 8.35 billion. These figures translate into increases of respectively 26.8% and 20.4%.
The slight decrease in exports recorded in July, coupled with record high imports, did not harm the positive balance of trade result for the state of Rio de Janeiro.
Last month, the surplus was US$ 239.4 million, driving up to US$ 1.98 billion the accumulated result from January until July, and up to US$ 4.26 billion the accumulated result for the last twelve months.
In terms of the country's total foreign trade for July, Rio de Janeiro contributed with 8.5% of exports and 8.9% of imports.
CNI