Brussels, 03/10/2011 (Agence Europe) - The growth in the bilateral trade of goods between the EU and Brazil continued at a steady pace in the first half of 2011. Although exports to Brazil increased by €2 billion in the first half of the year, compared to the first half of 2010, to reach a value of €16.9 billion, EU imports also increased significantly from €14.9 billion in the first half of 2010 to €18.5 billion in the first six months of this year. For the 2011 tax year, the EU therefore registered a deficit of €2 billion with regard to Brazil by the end of June this year.
Accounting for almost 2% of trade between the EU and third countries, Brazil is the EU's ninth largest trade partner and the EU is Brazil's largest trade partner accounting for 22% of its total trade. In 2010, EU exports to Brazil were worth €31.3 billion and its imports from the most powerful South American country stood at €32.3 billion.
Almost 90% of the EU exports to Brazil are manufactured products: cars and spare parts, medicines, planes and spare parts. Iron ore, coffee oilcake, soya beans, pulp and crude oil are the main EU products imported from Brazil.
The trade balance in services was in the EU's favour and in 2010 it registered €9.9 billion worth of exports as opposed to 5.5 billion in imports.
Brazil attracts more than 40% of direct investment from foreign direct investment (FDI) from the EU to South America. The EU accounts for 40% of FDI stock in Brazil (€132 billion at the end of 2009) and is the number one investor in the country. (EH/trans/fl)