Brazil's exports increase again
Date added: 10th July, 2009 at 09:53
(view all articles from July, 2009)
Categories: Economy, Property News
New figures released this week have shown that exports in Brazil have risen again as it continues to produce valuable commodities for the rest of the world.
According to trade secretary Welber Barral, export values may reach $160 billion (£98.1 billion) during 2009 as the global economy begins to come out of recession, Bloomberg reports.
"We believe exports of $160 billion is a realistic forecast, but it may be better," said Mr Barral.
China will be the biggest importer of Brazilian goods, having surpassed the US last year. Some $10.5 billion worth of products has already gone to the Far Eastern country, the Trade Ministry said.
Oil and natural gas are two of Brazil's most valuable commodities and are so abundant that the Latin American country is mostly self-sufficient. This allows it to build up its own wealth as it does not have to import hydrocarbon products from the Middle East as many Western countries do.
AGR Field Operations recently told Your Oil and Gas News that it intends to expand its operations in Brazil, having been successful in the off-shore Campos Basin.
Executive vice-president of Field Operations Age Landro said: "We consider Brazil as a very interesting area and believe this will be a region of strategic importance for the expansion of our business in the time to come."
In addition, state-owned energy giant Petrobras announced that oil and gas production in Brazil had reached record levels in March, going from 2.247 million barrels of oil equivalent (BOE) in February to 2.31 million BOE that month.
Agriculture is also a growing sector in Brazil - earlier this month, the ministry of agriculture, livestock and supply reported that agribusiness to the Middle East had grown by 33 per cent between April 2008 and the same month this year.
Sugar cane is one product in particular that is proving profitable for Brazil, since it is abundant and in demand after prices rose in other producing countries. It is also used to produce ethanol, which is gaining prominence thanks to its potential as a green fuel.
So, what benefits will this have for those buying property in Brazil? Essentially, a growth in exports should lead to a growth in wealth and disposable income, meaning that Brazilian people have more money to spend on domestic holidays to the coast.
It could also raise Brazil's profile as a holiday destination to the west, so more Britons may be interested in renting or even buying holiday homes there.
The north-east coast has been tipped to be a particular growth area for tourism.
Related Articles
FDI breaks records in Brazil
Date added: 9th July, 2009 at 16:21
(view all articles from July, 2009)
Capital cities 'are great for property investment'
Date added: 9th July, 2009 at 09:39
(view all articles from July, 2009)
Property 'is a good buy in Brazil'
Date added: 8th July, 2009 at 10:26
(view all articles from July, 2009)