Foreign sales rose 7% in third quarter

Imports grew 7.4% in the second quarter of this year, while exports grew by only 2.4% over the same period. The data was released yesterday (9) by the IBGE (Brazilian Institute of Geography and Statistics) for disclosure of GDP (Gross Domestic Product) in the third quarter of the country.

The external account deficit was a major reason why the country had a need for funding of the Brazilian economy from $ 24.1 billion in the third quarter of this year. The amount is double than the same period last year, when the need for funding was $ 12 billion.

Imports showed an increase of 40.9% in the third quarter over the same period last year, the largest growth series which started in 1996. The coordinator of IBGE's National Accounts, Roberto Olinto, said he believed, however, that import growth is not enough to impair the growth of Brazilian GDP.

"Looking at the quality of imports, one can verify that this is not a negative highlight. They are meeting a demand growth of income. In the third quarter, there is a significant imports of capital goods, ie, you have a large portion of investment. When importing, you do not dampened the growth, you are increasing your potential GDP and is meeting a demand, which at the moment, we are not able to serve internally. It does not mean you can not answer it going forward, "he said.

Among the highlights in the Brazilian imports include, besides machinery and equipment, steel items, textiles, vehicles, petroleum refining, plastics and chemicals, among others. (Source: Agência Brazil)

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