Day: January 9, 2020

Industrial output falls 1.2% in November and 1.1% in year-to-date

After three consecutive months of growing, Brazilian industrial production fell 1.2% in November, compared to October, and 1.7% compared to the previous year, according to the Brazilian Institute of Geography and Statistics (IBGE). This is the largest monthly decline since March (-1.4%) and the worst November since 2015 (-1.9%). Year to date, the industrial sector has fallen by 1.1%.

Central Bank reports a record $44.7 billion leaving Brazil in 2019

The outflow of dollars from the Brazilian economy exceeded its inflow by $44.77 (R$180) billion in 2019, the Central Bank (BC) reported. This is the largest net foreign exchange withdrawal since the start of the historical series in 1982. The previous record for net withdrawals had been recorded in 1999 when foreign exchange flow had turned negative at US$16.18 billion.

Bolsonaro expects $1.5 billion from sale of properties

Brazil federal government expects to raise R$6 (US$1.5) billion in 2020 from the sale of its real estate holdings. The forecast is to raise R$3 billion from the auction of 425 properties, including land, apartments, houses and stores, and the remainder from the sale of a portion of 100,000 plots of land under an outdated “forum” regime (similar to a a perpetual lease).

Record-high in beef exports in both volume and revenue in 2019

Brazil shipped 1.847 million tonnes of beef, up 12.4% from 2018, and revenue was up 15.5% to $7.59 billion, according to the Brazilian Beef Exporters Association (Abiec). Throughout 2019, China boosted exports and took the lead in purchases with 26.7% of total volume and $2.6 billion revenue. United Arab Emirates imported 71,397 tonnes of beef from Brazil in 2019, a figure 93% higher than 2018.