São Paulo – Foreign direct investments (FDI) in Brazil totaled USD 16.8 billion in the first two months, a record amount for the period according to data from the federal government made public this Friday (24). The total number means an increase of 57% in the capital invested over the first two months of last year.
Brazilian government says that the investments focused on almost all sectors of the economy. Industry received the largest sum, USD 7.3 billion, in January and February. The coke and oil products sector had USD 2.8 billion, while chemical products received USD 1.5 billion and metal sector received USD 820 million.
Services was the target of USD 6.9 billion, with the highlights being electric power with USD 5 billion, trade with USD 832 million, and financial services with USD 201 million.
Meanwhile, agribusiness and mineral extraction received USD 1.6 billion in foreign investments, with USD 1 billion in metallic minerals extraction, USD 362 million in the oil and natural gas extraction, and USD 162 million in mineral extraction-related activities.
According to the Brazilian government, Brazil has been able to regain the trust of economic agents and once again has attracted the interest of foreign investors with the reforms that were implemented. “In essence, the data means that there will be more resources available to expand businesses, develop projects and generate wealth and economic growth,” said the government in a statement.
*Translated by Sérgio Kakitani