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Brazil Property News: Foreign trade in Brazil hits record-high
5th February 2008 11:41
Foreign trade in Brazil hit a record high in January, new figures have revealed.
According to figures published by the Brazilian Ministry of Development, Industry and Foreign Trade exports totalled $13 billion (£6.5 billion) while imports stood at $12 billion (£6 billion) and bilateral trade came in at $25 billion (£12.5 billion) during the month.
The figures are all the highest ever recorded for the first month of the year, signalling growth in the Latin American nation's economy, reports Brazilian-Arab news agency ANBA.
Highlights included exports of tobacco leaves increasing by 100 per cent, soy grains by 82 per cent and chicken meat by 61 per cent while iron ore exportation went up by 11 per cent.
Earlier this month Brazilian president Luiz Inacio Lula da Silva claimed that the credit crunch in the US markets would not slow his nation's economy down.
He said: "I believe that we'll have vigorous growth in 2008, more credit, more investment in production, more foreign investment.
"That assures us that in 2009 also we will have strong economic growth, which means my successor will find the economy growing and the house in order."
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