Brazil Property Investment - More Good News

Brazil had one of its best years ever in 2008 when the country’s GDP growth was among the highest in the world. After a slower start to this year, recent statistics for April show that Brazil is also firmly on track to lead the world’s economy in 2009.

Statistics for April, just released by the Economic Commission for Latin America and the Caribbean (ECLAC – one of the United Nations’ five regional commissions), prove that Brazil’s economy is doing more than well. According to ECLAC, Brazil’s stock market is buoyant, exports grew by nearly 15% last month when the country also registered a very healthy trade surplus of US$3,700 billion.

In addition to this trio of positive statistics – which most countries would give their eye teeth for in the current economic climate – Brazil has just announced the extraction of the first barrel of oil from the Tupi oil fields in the Bahía de Santos. The Tupi fields and those in the surrounding area are believed to be among the largest in the world and when extraction begins in earnest in 2010, Brazil expects to produce some 1.8 million barrels of oil a day.

Brazil is already a world leader in the so-called ‘green energies’ and the biofuel sector has seen vast investment. The huge oil reserves are also expected to attract major investment interest and have led Brazil’s President, Lula da Silva, to claim Brazil’s economy is entering a ‘new era’.

“Things are certainly looking very good for Brazil at the moment,” comments James Gonzalez, Market Analyst at Obelisk Investment Property. “The combination of excellent economic statistics for April and the first successful extraction of oil come at a time when many countries are struggling in difficult conditions. Brazil is the exception to the rule and this tendency looks set to continue for the rest of the year.”


Related articles:
Buying Property in Brazil - Ten Things You Need to Know
Property in Brazil - A Case Study

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