Foreign Direct Investment In Brazil Soars In Oct to US$6.8 billion last month - the highest for the month since records were started.
Foreign Direct Investment In Brazil Soars In Oct
BRASILIA, Nov 24 (BERNAMA- NNN-MERCOPRESS) - Foreign direct investment in Brazil soared to US$6.8 billion last month - the highest for the month since records were started.
This was higher than last month with US$5 billion and four times Oct a year ago with US$1.6 billion, according to the latest statement from the Central Bank.
In the first ten months of the year, FDI in Brazil reached US$29.4 billion equivalent to 1.8% of GDP, while in the last twelve months to Oct, FDI was US$36.1 billion equivalent to 1.83% of GDP. In the twelve months to Oct last year the equivalent was 1.97% of GDP.
So far in Nov 23 FDI adds to US$2.2 billion and are expected to reach US$2.8 billion at the end of the month. The figures were presented by Tulio Maciel, head of the Central Bank Economics Department.
He added that foreign investment in Brazilian shares in Nov estimated US$928 million. However since operations in Brazil's markets attracted US$935 million, it means that Brazilian companies' shares overseas have seen a retraction of US$7 million.
"The last two months have been most positive, and we have already overtaken our initial annual FDI investment target", said Maciel. The target for this year is US$30 billion but in the first ten months of the year they already total US$29.4 billion.
Meanwhile foreign investment in shares added to US$14.53 billion in Oct, which is slightly higher than in Oct last year with US$14.49 billion. According to the Brazilian central bank most foreign investors appealed to ADR with a liquid positive exposure of US$9.6 billion. Shares traded exclusively in Brazil had a positive showing of US$4.9 billion during Oct.
So far this shares attracted US$33.7 billion, of which US$26.6 billion in Brazil and US$7.1 billion in ADRs. The central bank also reported that foreign investment in fixed income assets reached US$2.4 billion in Oct, of which US$1.75 million traded in Brazil and US$491 million overseas. In the ten months of the year this type of investments attracted US$26.3 billion.
Remittances of earnings and dividends in Oct totalled US$2.2 billion according to the central bank. This compares with the US$1.6 billion of last Sept and US$1.9 billion of a year ago. In the first ten months of this year remittances reached US$23 billion, compared to US$17.9 billion a year ago.
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