Brazil: Trade with Portugal falls 43.5 percent in first quarter

8 April 2009

Brasilia, Brazil, 8 April – Trade between Brazil and Portugal fell 43.5 percent year-on-year in the first quarter of 2009 due to the world crisis, said a source from Brazil’s Development, Industry and Foreign Trade Ministry.

From January to March, trade between the two countries totaled US$255.686 million, whilst in the first quarter of 2008 this figure totalled US$452.567 million, the source told Portuguese news agency Lusa.

Brazilian exports to Portugal fell 50.6 percent to US$171.384 million and Brazilian imports of Portuguese products fell 20.1 percent to US$84.301 million.

The ministry source noted that meanwhile there had been a slight recovery in March, after a sharp fall in trade between the two countries in the first two months of the year.

The Brazilian government has forecast a fall of 20 percent in all exports this year, but gave no projections for imports.

The Central Bank has forecast a Brazilian trade surplus in 2009 of US$13 billion.

In 2008, Brazil’s balance of trade surplus totalled US$24.700 billion, which was a fall of 38.2 percent on 2007, when the surplus totalled US$40 billion. (macauhub)