Brazil: Trade with Portugal rises 25 percent in first eight months of 2008

13 October 2008

Sao Paulo, Brazil, 13 Oct – Trade between Portugal and Brazil rose 25.4 percent to US$1.67 billion in the first eight months of this year, against the same period of 2007, with significant increases in Portuguese exports, officials said.

Figures from Brazil’s Ministry for Development, Industry and Foreign Trade showed that Portuguese exports to Brazil more than doubled in the period, from US$205.7 million to US$426.6 million.

In the opposite direction, Portuguese imports from Brazil rose to a lesser degree, around 11 percent, to US$1.25 billion in the first eight months of 2008, against the same period of last year.

The strong increase in Portuguese exports also led to a 10.6 percent reduction in Brazil’s trade surplus with its European partner, falling from US$926 million to US$827.6 million in the period.

In 2007 trade between the two countries rose 20.6 percent against 2006 to US$2.15 billion.

In 2007 Brazil exported US$1.8 billion in goods to Portugal, and imported US$341 million in Portuguese products.

Brazil’s total exports rose 27.7 percent to US$130.84 billion in the period. (macauhub)