Brazil ran a USD 2.2 billion surplus last month as exports cooled off and imports climbed, prompting the government to revise its yearlong estimate.
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The World Trade Organization sees worldwide sales of goods going up 1.2% this year, down from last April’s 2.6% estimate.
A delegation from the northern Brazilian state visited the Arab Brazilian Chamber of Commerce’s international office in Dubai. Business owners are looking to carve out a market for themselves in the emirate.
Increase was recorded in August from July in survey by the IBGE. Year-on-year, it saw a decrease.
Forecasts from Brazilian financial institutions polled by the Brazilian Central Bank eased marginally, going from 3.44% to 3.43% for inflation and from 5% to 4.75% for the interest rate.
The company’s Brazilian arm supplies equipment to be used in works for the 2022 FIFA World Cup.
Six of the region’s economies are among the top 20 improvers in the World Bank’s ease of doing business list: Bahrain, Djibouti, Jordan, Kuwait, Qatar and Saudi Arabia.
June-August rate slid from 12.1% from a year ago and 12.3% in March-May 2019.
Price index recorded a year-on-year 1.1% decrease.
Institution predicts a 0.9% growth for Brazil’s GDP this year from a previous 0.8% estimate.
The deficit narrowed as a result of a 5.5% hike in exports and a 4.4% drop in imports.
Capital goods exports from Brazil reached USD 824 million in August, down 15.7% from August 2018.
USD 29 billion went into the government’s coffers during the month, the highest result for the month since 2014.
Foreign sales fetched USD 4.422 billion and foreign purchases amounted to USD 3.454 billion, leading to a USD 968 million trade surplus.
