Brazil’s Trade Surplus Falls 64% in 2008 Due to Cheap Dollar

Imported machinery in Brazil Brazil's balance of trade (exports minus imports) ran a surplus of US$ 260 million in the third week this month, as a result of US$ 3.279 billion in exports and US$ 3.019 billion in imports. The surpluses recorded in the two other weeks this month were higher (US$ 842 million and US$ 319 million).

In the month of April, so far, the trade balance runs a surplus (US$ 1.421 billion) greater than the accumulated result posted in March this year, which was US$ 1.012 billion. In April, exports totaled US$ 8.985 billion and imports, US$ 7.564 billion.

In the 75 business days from January to April 20th, the Brazilian balance of trade recorded exports of US$ 47.675 billion and imports of US$ 43.417 billion.

The trade surplus this year stands at US$ 4.258 billion, a reduction of 63.6% in comparison with the same period of last year, which had 76 business days. Last year, exports during the period totaled US$ 42.490 billion and imports, US$ 30.768 billion.

The lower trade surplus is a consequence of imports at a higher rate than exports. This happens because of the depreciation of the dollar in Brazil, which encourages purchases of machinery and equipment from foreign countries. Furthermore, the higher income of the Brazilian population favors purchases of imported products.

According to the press office at the Brazilian Ministry of Development, Industry and Foreign Trade, the effects of the tax auditors' strike on the balance of trade result are only going to be disclosed in early May, when the figures for the entire month of April should be disclosed.

According to the Focus bulletin, published on a weekly basis by the Brazilian Central Bank, the balance of trade surplus projection of market analysts for the entire year has decreased from US$ 25.30 billion to US$ 25 billion.

ABr

Tags:

You May Also Like

Hedgefund.net's logo

Brazil and Latin America Get New Hedge Fund Benchmark

HedgeFund.net (HFN) has announced the launch of a new hedge fund benchmark for funds ...

Brazil’s Best-Selling Rice on Arab Tables

Josapar group, the leading packer and distributor of rice in Latin America, which is ...

Brazil Sets Aside US$ 2.8 Million to Fund Research in Algae Biofuel

The Brazilian government is eager to fund the development of seaweed-based biodiesel production, Brazil ...

Saudi Mission Looks for Raw Material in Brazil

During their visit to Brazil, the executives of three great state-owned companies of Saudi ...

As Brazil’s President Dilma Will Have to Prove She’s No Lula’s Puppet

Though less than a week has passed since the crucial Venezuelan National Assembly elections, ...

Brazil Yanomami Accuse Gold Miners of Bringing Disease and Killing Their Fish

In a letter denouncing the invasion of their land by illegal garimpeiros (gold miners) ...

Brazilian Muscle Back at the Indy 500 Track

The first day of qualifications for 92nd running of the Indianapolis 500 failed to ...

Brazil Puts US$ 598 Million in ‘Agenda Of Commitments’ to Create Jobs

The Agenda of Commitments for social development that the Brazilian federal government launched today ...

Lula Wants Spain to Join Brazil in Helping Poor Nations

The Prince of Astúrias, Don Filipe de Borbón y Grecia, and his wife, Princess ...

Brazil’s Environment Minister Wants to See Accords Implemented

The high-level meeting of the 8th Conference of the Parties to the Biological Diversity ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`