Brazilian farming sector accounts for 93 pct of trade surplus in 2006

8 January 2007

Sao Paulo, Brazil, 8 Jan – Brazil’s farming sector posted record exports and accounted for 93 percent of the country’s trade surplus in 2006, officials said Friday.

According to the Ministry of Agriculture, despite an increase in the export of manufactured goods, such as cars and airplanes, the farming sector was the main sector responsible for the country’s balance of trade surplus.

Last year, Brazil posted a trade surplus of US$46 billion, a record resulting from the export of US$137.5 billion and imports of US$91.4 billion.

The export of farming sector goods totaled US$49.4 billion, which accounted for 36 percent of all foreign sales. Imports totaled US$6.7 million, which corresponds to 7.3 percent of total imports.

Last year, Brazilian exports of farming goods rose 13.4 percent against 2005.

Exports increased despite the devaluation of the US dollar against the Brazilian currency, which reduced the competitiveness of Brazil’s products abroad, Agriculture Minister, Luiz Carlos Guedes said. (macauhub)