Rio’s fashion exports up 13%
Rio de Janeiro’s fashion exports have increase by 13 per cent from January to November 2007, compared with the same period in 2006.
Figures supplied by the Fashion Business Forum revealed that exports in the fashion sector now answer for 8.78 per cent of all of Rio’s exports, reports Brazilian Arab news agency ANBA.
The news coincides with the opening of one of Rio’s biggest fashion events "Fashion Rio and Fashion Business" which is organised by the Fashion Business Forum and promoted by the Federation of Industries of the State of Rio de Janeiro.
Financial experts say the sector’s strong foreign sales show the reduced influence of exchange rate variations on the fashion sector in Rio.
The fashion industry is just one of many sectors in the Brazilian economy to experience growth in the past 12 months.
At the end of 2007 Brazil received an economic "blessing" when state-owned oil firm Petrobras discovered what is believed to be 40 per cent of Brazil’s total oil reserves off the coast of Rio.
Good news for Brazil’s economy may have a positive effect on its property market, as economic stability can attract investors and help boost house prices.
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