US dollar inflows to Brazil were higher than outflows in July, capping a two-month downward run.
In a lecture at the Arab Chamber, Banco Plural economist Paulo Val said spending cuts and a Social Security reform are crucial in order for the country to start growing again. He also covered forex trading and inflation.
International prices of primary products tumbled from June to July, according to index measured by the Brazilian Central Bank (BC).
The region, which had accounted for 17% of the Brazilian company’s exports in H1 2015, was the target of 21% of sales in H1 2016. Iraq, Iran, Palestine and the UAE all stepped up their purchases.
Volume and revenues, however, went down in July in comparison to the same period in 2015, according to data released by the sector’s association.
Brazil produced 3.21 million barrels of oil equivalent per day in June, with 2.558 million of oil barrels and 103.5 million of cubic meters of natural gas.
Sales declined in July from July 2015, but went up 5.6% relative to July 2016.
Organizations signed a cooperation agreement to promote companies from São Paulo state in the Arab world and to attract businesses from the region to the state. A joint mission for this year still is also in the plans.
A bicycle tour through São Paulo’s tourist points is offered for free by project Bike Tour SP. The audio guide is available in Portuguese and English. Foreign tourists have been taking the tour.
Anna Haven, from Guarulhos, signed an agreement for the development and sales of an exclusive shampoo to a distributor in Kuwait. It also entered the Saudi market and is negotiating with Egypt and Lebanon.
During a visit to the Arab Chamber, the honorary consul Djamil Mahamoud said there is room for bilateral trade to grow.
Brazilian exports outweighed imports by USD 4.578 billion during the month. Year-to-date, the surplus was USD 28.23 billion, an all-time high for the period.
The Brazilian auto industry’s premier event will run from November 10 to 20 in São Paulo.
Financial institutions responding to a Central Bank poll believe Brazil’s economy is set to shrink by 3.24% this year. Last week’s forecast had been a bit worse at 3.27%.
