Brasília – The recovery of the Brazilian economy remains driven by the domestic market, and the expectation of the industry sector is that only in 2010 will there be a resumption of foreign trade. The analysis was made today (7th) by the manager of the Research, Evaluation and Development Unit of the National Confederation of Industries (CNI), Renato da Fonseca, upon disclosing the Industrial Indicators survey.
“The crisis in trade was as deep as in the industrial sector, which was more seriously affected because of plummeting exports,” explained Fonseca. “Thus, our recovery is taking place based on the domestic market, and only from 2010 onwards there should be a resumption of trade with foreign countries,” he estimated.
Fonseca points out as the main problems of the processing industry the appreciation of the Brazilian currency (real) against the dollar, and the need for further investment in infrastructure. "The market is more competitive and the exporting sector is faced with adverse conditions because of the appreciation of the real."
The CNI representative once again called for lower export tariffs as a means to provide greater competitiveness to Brazilian products abroad.
*Translated by Gabriel Pomerancblum