SAO PAULO – Imports totaled 21.8 percent of Brazil’s consumption in 2010, a new record in the South American country, according to foreign trade figures compiled and released Monday by the Federation of Industries of the State of Sao Paulo, or FIESP.
The largest such Brazilian federation said that the import coefficient, which measures the participation of products from abroad in domestic consumption, reached 21.8 percent in 2010, the highest level in history and an increase of 3.5 percent over the figure for 2009.
The export coefficient, which measures the percentage of domestic production sold abroad, was 18.9 percent last year, a slight increase over the figure for 2009.
High demand, the depreciation of the U.S. dollar and fiscal profits, circumstances that were repeatedly denounced by the business sector, were the main elements pointed to by FIESP to justify the rise in imports.
The 14.2 percent growth in domestic consumption in 2010 was 46.8 percent accounted for products from abroad, a symptom of the danger of “de-industrialization,” especially in sectors that had always been dominated by local production, including steelmaking, FIESP noted. EFE