Brasília – The government revised its export target for 2010 up from US$ 168 billion to US$ 180 billion. The figure represents growth of 17.6% over total exports in 2009. According to the secretary of Foreign Trade at the Brazilian Ministry of Development, Industry and Foreign Trade, Welber Barral, the upward revision is due to the country’s performance in foreign sales thus far.
From January until May, the country exported US$ 72 billion, an all-time high for the period, surpassing the figure recorded in the first months of 2008, prior to the beginning of the international economic crisis. In that year, however, foreign sales totalled US$ 198 billion, according to the Ministry.
The secretary claimed that despite the growth, Brazil needs to stay alert and improve its competitiveness, because exports have increased basically because of sales of oil, iron ore, and soybean.
“These products accounted for 53% of the increase in exports from May 2009 until May 2010. This may be dangerous, in case the country becomes dependent on global commodities prices,” said Barral.
From January until May, Brazilian imports totalled US$ 66.4 billion, with a resulting trade surplus of US$ 5.6 billion, almost 40% more than in the same period of last year.
*Translated by Gabriel Pomerancblum
