SAO PAULO--Brazil posted a foreign-trade surplus of $812 million for the first week of October, bringing the year-to- date surplus to $16.54 billion, significantly lagging behind 2011 performance, the Trade and Development Ministry said Monday.
Brazil's year-to-date surplus through the first week of October 2011 was a hefty $23.63 billion. This year, both imports and exports fell behind the 2011 performance.
Exports are down more sharply in 2012 than imports are.
Brazilian exports for 2012 through Oct. 7 were $185.95 billion, down from $195.4 billion for the same period of 2011.
According to the ministry, the decline is due mainly to slower international demand for manufactured goods.
Brazilian imports for 2012 through Oct. 7 were $169.42 billion, down from $171.77 billion for the same period in 2011.
Imports are down because Brazil's economy entered a slowdown during the first half of 2012, but there is still significant demand for imported raw materials, components and capital goods, the ministry said.
Brazil's economy is forecast to expand by about 1.6% this year, down from 2.7% in 2011.
nasdaq.com
Brazil's year-to-date surplus through the first week of October 2011 was a hefty $23.63 billion. This year, both imports and exports fell behind the 2011 performance.
Exports are down more sharply in 2012 than imports are.
Brazilian exports for 2012 through Oct. 7 were $185.95 billion, down from $195.4 billion for the same period of 2011.
According to the ministry, the decline is due mainly to slower international demand for manufactured goods.
Brazilian imports for 2012 through Oct. 7 were $169.42 billion, down from $171.77 billion for the same period in 2011.
Imports are down because Brazil's economy entered a slowdown during the first half of 2012, but there is still significant demand for imported raw materials, components and capital goods, the ministry said.
Brazil's economy is forecast to expand by about 1.6% this year, down from 2.7% in 2011.
nasdaq.com
No comments:
Post a Comment