Brazilians' Spending with International Travelling Falls 30.4% in July

08/26/2015 - 09h16

Brazilians' spending with international travelling fell 30.4 %, totalling US$ 1.68 billion in July this year over the same month of 2014, according to the country's Central Bank.

The appreciation of the US dollar and the decline in workers income are among the reasons that have contributed to reduce the spending. In the first seven months of 2015, it dropped 21.8%, reaching US$ 11.6 billion.

The reduction of international spending is among the factors that helped to reduce Brazil's deficit in transactions of goods, services and income with other countries.

The external deficit shrank 33% this July compared to July last year, reaching US$ 6.2 billion. Within the year, it dropped to US$ 44.1 billion or 24%. In 12 months, it equals 4.34% of GDP.

The export of goods fell 16%, but imports decreased even more: 19% in the year. A sharp decrease to 37% in profit remittances was registered in the same period.

Brazil's Central Bank data also show the dollar inflow in the country, mainly from foreign investments, decreased.

Direct investments in the country's companies dropped to US$ 36.9 billion - 33% decline in the year. Investments in fixed income securities fell 27%, reaching US$ 18 billion.

Stock market investments, on the other hand, increased 22%, totalling US$ 11 billion.

Translated by JULIANA CALDERARI

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