Brazil produced 2.721 million barrels of oil equivalent in May, including 2.189 million oil barrels and 84.5 million cubic metres of gas.
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Financial organizations revised down the Brazilian economy estimate for 2014. It moved from 1.10% to 1.07%. This is the sixth consecutive reduction.
The country’s Foreign Trade Chamber has taken action against six countries. The duties will be levied on flat glass imports from China, Saudi Arabia, Egypt, United Arab Emirates, United States and Mexico.
Report by Unctad on the continent says African growth is not sustainable as it is based on consumption. Organization calls on countries to invest in infrastructure, agriculture and industry.
The increase took place May-on-May. The demand amounted to 76 million cubic metres per day during the month.
The 13th round for oil and gas exploration blocks is scheduled to take place in June next year. Areas will be offered under concession system.
The products will be 100% Brazilian-made and should hit the market in 2017. The project involves Fiocruz, Instituto Vital Brasil and joint venture Bionovis, formed by Sem, Aché, Hypermarcas and União Química.
Brazilian government launches portal that brings information on how to export, import and invest in Brazil, besides logistic data. Goal is to gather there all the information regarding foreign trade.
Export revenues exceeded imports by US$ 2.365 billion last month. Year-to-date, the trade balance still shows a US$ 2.4 billion deficit.
Brazilian industry sales went from US$ 29.9 million in Q1 last year to US$ 34.3 million in Q1 this year. South America and Africa were the top buying regions.
May’s result was the worst for the month since the beginning of the historic series, in December 2001. In the twelve-month period, primary surplus amounts to 1.52% of the GDP.
For the fifth time straight, financial institutions have revised down their Brazilian economic growth estimates for 2014, to 1.10% to 1.16%.
The BB is launching a sharia-compliant fund in partnership with a Singapore bank. Brazilian companies’ shares will be traded in the Middle East and Asia.
Premium buggies manufactured in the Paraná state capital even have air conditioning. The company began exporting last year, and 70 units should be shipped to the Arab country by the end of 2014.
