Brasília – The Brazilian Ministry of Development, Industry and Foreign Trade revised its 2011 export target up to US$ 257 billion. The estimate is 27% higher than the foreign sales figure recorded last year, which was US$ 202 billion.
Early this year, the government announced a US$ 228 billion target. In May, the figure was revised upward to US$ 245 billion. As for imports, the Ministry estimates a US$ 240 billion figure for this year.
In spite of the optimism generated by the Brazilian trade balance in August, when all figures were monthly all-time highs, the executive secretary at the Ministry, Alessandro Teixeira, stated that it is too early for estimates concerning 2012. “Next year will be an important, dynamic one for the international economy. We need to get a feel for the retraction, how the countries will behave [when faced with the crisis scenario],” he said.
Teixeira claimed that emerging nations are expected to be responsible for the wealth that will be generated worldwide next year. “The global forecast for 2012 is that 51% of the wealth will be created by developing economies,” he added.
*Translated by Gabriel Pomerancblum
