Foreign investment in Brazil quadrupled in five yearsDecember 16th, 2011 - 11:42 am ICT by IANS
Rio de Janeiro, Dec 16 (IANS/EFE) Cumulative foreign direct investment in Brazil expanded fourfold between 2005 and last year, from $162.8 billion to $660.5 billion, the country’s central bank said Thursday.
Even with the exclusion of multinationals’ transfers to their Brazilian subsidiaries, estimated by the central bank at $80.9 billion, FDI rose by 256 percent over the period.
The leading foreign investors in Latin America’s biggest economy are the US, with $104.7 billion; Spain, $85.3 billion; and Belgium, with $50.4 billion.
Just over $98 billion, or 16.9 percent of total FDI during the period studied, went to Brazil’s financial sector, while 9 percent - $52.2 billion - was captured by the beverage industry.
The oil and gas sector received $49.5 billion in FDI, 8.5 percent of the total, and $40.6 billion flowed into telecoms.
Brazil will post around $60 billion in additional FDI for 2011, according to the latest projections by the central bank.
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Tags: belgium, beverage industry, brazil, economy, efe, financial sector, foreign direct investment, foreign investment, foreign investors, gas sector, latin america, multinationals, oil and gas, rio de janeiro, s central, spain, subsidiaries, telecoms