Brazil’s 2009 trade surplus smallest in seven years

January 5th, 2010 - 12:52 pm ICT by IANS  

Rio de Janeiro, Jan 5 (IANS/EFE) Brazil registered a trade surplus last year of $24.62 billion, the smallest since 2002’s positive balance of $13.09 billion, authorities said.
The 2009 surplus was 1.4 percent lower than in 2008 and was far below the 2007 figure of $40 billion and the record $46.46 billion surplus registered in 2006.

Last year’s surplus was the net of $152.25 billion in exports and $127.64 billion worth of imports, the Development, Industry and Trade Ministry said Monday.

While exports dropped 23.08 percent compared to 2008 as a consequence of the global economic crisis, which slashed demand for Brazilian products abroad, imports were reduced 26.22 percent from 2008 levels.

The recession caused a drop in trade volume from $370.93 billion in 2008 to $279.89 billion last year.

Although the international crisis severely affected Brazilian industry’s exports, only in January did Latin America’s biggest economy experience a trade deficit, $529 million.

The most positive result was in June, when the surplus totalled $4.6 billion.

Brazil in December had a trade surplus of $1.44 billion, 38 percent lower in value than the same month in 2008, but 133.33 percent higher than in November 2009.

–IANS/EFE

hv/jg

Related Stories

Tags: , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe