São Paulo – The trade balance of Brazil may, this year, generate a surplus of between US$ 15 billion and US$ 16 billion. The forecast is by Development, Industry and Foreign Trade minister Miguel Jorge. “Although the Secex (Foreign Trade Secretariat) does not forecast trade balance surpluses, I will: we should reach between US$ 15 billion and US$ 16 billion, which is excellent, as it is in a year right after the great crisis," said the minister on Wednesday (27), in São Paulo.
From January to last week, the accumulated trade balance has been US$ 14.463 billion, resulting from exports of US$ 158.779 billion and imports of US$ 144.316 billion, according to the Secex. This week, the Foreign Trade secretary, Welber Barral, expanded expectations for Brazilian foreign sales from US$ 180 billion to US$ 195 billion in 2010.
According to Jorge, the problem of depreciation of the dollar is an important matter and requires advances all over the world. To him, Brazilian industry has shown itself competent to face this difficulty, which mainly affects exports. It has, however, greatly benefited imports.
"We must also take into consideration that Brazilian industry has greatly benefited from imports, as around 80% represent inputs, machinery and equipment, helping not just in competitiveness, but also in productivity and modernisation as a whole," he said.
According to the minister, complaints by the auto industry regarding depreciation of the currency are senseless. "The auto industry is complaining, but I do not know why, as 68% of imports are made by the auto industry. If it stops importing, we will have a 68% reduction in imports of vehicles into Brazil," said Jorge, who has even been an executive in the sector.
In an address at the opening of the Car Salon, in São Paulo, the minister pointed out that one of the main challenges for the national auto sector is reducing emission of greenhouse gas and improving the combustion of fuels. "In coming years, a great challenge for the industry will be development of better engines," he said.
The Salon goes on up to November 7th, at the Anhembi Exhibition Pavilion. Those participating include 42 different vehicle brands, both domestic and international.
*With information from the ANBA newsroom. Translated by Mark Ament
