Committed to PEOPLE'S RIGHT TO KNOW
Wednesday, February 10, 2010 08:13 AM GMT+06:00  
 
Business

Brazil is forecasting a run of export growth that will put it in league with the 25 biggest exporters in the world within the next three years, junior trade minister Welber Barral said Thursday.

Exports this year are already on track to hit a record 157 billion dollars, and next year should see a further increase of 10 percent on that, Barral said as he inaugurated an event in Rio de Janeiro.

In 2010, Brazil should account for 1.25 percent of world trade with exports totalling 208.8 billion dollars, he said.

"Brazil is one of the 30 biggest exporters in the world, according to the World Trade Organization. By 2010, we will be among the 25 biggest," he said.

A possible wrinkle in the calculation, however, is the increasing strength of Brazil's real compared to the dollar, which is making Brazilian exports more expensive.

Imports have already grown as a result, eroding the country's trade surplus.