Brazil: Brazilian imports from Portuguese-speaking countries more than double in first half

16 July 2008

Sao Paulo, Brazil, 16 July – Brazilian imports from members of the Community of Countries with Portuguese as an Official Language (CPLP) rose 154.8 percent in the first half of the year to US$1.43 billion, according to figures from the Brazilian Ministry of Development, Industry and Foreign Trade.

In the same period, Brazilian imports from the CPLP totalled US$562.2 million, the ministry said.

Amongst the CPLP nations, Brazilian imports from Portugal rose by 41.7 percent to US$219.29 million in the period.

In the opposite direction, Brazilian exports to CPLP countries totalled US$1.76 billion, a rise of 37.1 percent year on year for the first six months of 2008.

Trade between the Brazil and CPLP countries (exports and imports) totalled US$3.19 billion, a rise of 72.9 percent for the period.

Despite strong growth in imports, the trade surplus remains in Brazil’s favour by a total of US$330 million, namely because of oil, soy, maize, steel laminate and iron ore exports.

From the CPLP Brazil mainly imported oil, olive oil, salted cod-fish, acrylic cables and wine, according to official figures.

Brazil’s total exports in the first half increased 24.8 percent to US$90.6 billion as a result of greater volume and value of agricultural and basic products such as oil and iron ore.

In the opposite direction, Brazilian imported a total of US$79.2 billion, a rise of 51.8 percent year on year for the first six months of 2008.

This positive export performance led the Brazilian government to raise its forecast for exports in 2008 to US$190 billion from US$180 billion previously.

The government ahs a set a target of US$210 billion in exports by 210, which would account for 1.25 percent of total world trade.

“This is quite an ambitious target, but very possible,” the executive secretary for the Ministry of Trade and Industry, Ivan Ramalho recently.

Brazil is currently one of the world’s top 30 biggest exporters, with 85 percent of its exports sent to over 100 countries, whilst the remaining 15 percent go to the United States market. (macauhub)