Trade between Brazil and Portugal falls 45.5 pct in first half

6 July 2009

Brasilia, Brazil, 6 July – Trade between Brazil and Portugal in the first half of this year fell 45.5 percent year-on-year, to US$650 million, in line with the fall in world tarde, according to figures from Brazil’s Development, Industry and Foreign Trade Ministry.

Figures from the Ministry showed that Brazilian exports to Portugal fell by 49.7 percent year on year, to US$492.6 million.

For the main product exported to Portugal, oil, the drop was 64.2 percent – from US$338.5 million in the first six months of last year to US$121 million in the first half of 2009.

Brazilian imports from Portugal fell 26.3 percent to US$157.7 million.

In the period, Brazil’s total balance of trade posted a surplus of US$13.9 billion or 23.8 percent more than the US$11.3 billion seen in the same period of 2008.

The rise in the surplus occurred despite the fall in trade between Brazil and the rest of the world, which was the biggest drop in the last 50 years, as the drop in exports was higher than the fall in imports.

in the first half, exports totalled US$69.9 billion and imports totalled US$55.9 billion. (macauhub)