São Paulo – This Monday (3rd), the Brazilian Ministry of Development, Industry and Foreign Trade announced the export target for 2011 at US$ 228 billion. If met, the result will represent an increase of 13% over the nearly US$ 202 billion result recorded in 2010, the highest result ever in Brazilian foreign trade.
"This will be possible due to the economic growth of developing countries. We have also assumed that commodities prices and the exchange rate will remain at similar levels," said the Foreign Trade secretary of the ministry, Welber Barral, according to a statement issued by the ministry’s press office.
According to the ministry, the growth estimate is higher than that of the International Monetary Fund, which is 9.2%. Last year, Brazilian exports grew by 31.4%, a rate higher than the world average.
In 2010, there was an increase in sales of basic, semi-manufactured and manufactured goods, the highlights being iron ore, oil, maize, copper ore, meats, leathers, semi-manufactured iron and steel products, sugar, pulp, iron alloys, semi-manufactured gold, soy oil, cargo vehicles, engines, auto parts, passenger vehicles, aluminium oxides and hydroxides, pumps and compressors, oil fuels, tyres, plastic polymers, flat rolled products and shoes.
Exports of basic goods grew the most, followed by those of semi-manufactured goods and finished goods.
The leading targets for Brazilian products were China, the United States, Argentina, the Netherlands and Germany.
This Monday, Miguel Jorge, the minister of Development, Industry and Foreign Trade during the second term in office of president Luiz Inácio Lula Silva, handed over the ministry to Fernando Pimentel, who was chosen by president Dilma Rousseff.
*Translated by Gabriel Pomerancblum
