Mining company Vale overtakes Petrobras to become Brazil’s biggest exporter

25 August 2010

Brasilia, Brazil, 25 Feb – Brazilian mining company Vale has overtaken oil company Petrobras to become Brazil’s biggest export company, according to figures published in Brasilia by the Development, Industry and Foreign Trade Ministry.

The figures showed that, between January and July, Vale exported products worth US$10.143 billion as compared to US$10.139 billion exported by Petrobras. This is the first time the mining company has managed to take the top spot in the list of Brazil’s biggest exporters.

Petrobras had been in first place since 2002, when it overtook the then leader aircraft manufacturer, Empresa Brasileira de Aeronáutica (Embraer).

In percentage terms, Vale and Petrobras are each responsible for 9.49 percent of Brazilian exports, whilst at the end of 2009 the oil company had a share of 8.04 percent of exports and Vale had a 7.08 percent share.

Meanwhile, Brazil’s balance of trade posted an overall accumulated surplus for the year at the end of the third week of August of US$11.467 billion, as a result of exports of US$120.027 billion and imports of US$108.56 billion. (macauhub)