Rise in imports to Brazil provides opportunities for Portuguese companies

6 June 2006

Sao Paulo, Brazil, 06 June – The recent increase in imports to Brazil is providing opportunities for Portuguese companies to sell more products to Brazil, the Brazilian secretary of the Ministry of Development, Industry and Trade said Monday.

Ivan Ramalho, who took part in Fórum Portugal 2006, in Sao Paulo, said that Brazilian imports had increased at a higher rate than exports in the first few months of the year.

In the first four months of 2006, total Brazilian imports rose by 24.6 percent to US$26.7 billion, while exports increased by 16.5 percent to US$39.1 billion, against the same period of 2005.

Ramalho also said that Portugal should reduce, over the next few years, the balance of trade deficit with Brazil.

Last year, Brazilian exports to Portugal increased 5.5 percent, while Brazilian imports from Portugal grew by 20.7 percent.

In 2005, Brazil exported a total of US$1.015 billion to Portugal and imported US$784 million.

Last year, Portugal was ranked 23rd in the list of countries to buy most products from Brazil, a ranking headed by the USA, followed by Argentina and China.

Amongst countries that sold most to Brazil, Portugal ranked in 46th place, while this list was also headed by the USA, Argentina, Germany and China.

Fórum Portugal 2006, was promoted by the Sao Paulo Portuguese-Brazilian Federation of Industries (FIESP), the most important employers’ association in Brazil. (macauhub)