Iron ore was the product that most stood out in Brazil’s balance of trade in 2010, with exports growing by 117% between January and December. This was the largest rise among all items in the basic products category. Thanks to this result, Vale – which accounts for around 80% of Brazil’s iron ore exports – has become the country’s biggest exporter and has extended its participation in the national economy. This information was released by the Ministry of Development, Industry and Foreign Trade (MDIC).
In all, Brazil’s exports of basic products came to US$90 billion last year, 44.7% up on the previous year’s figure of US$61.95 billion. In nominal terms, iron ore exports rose by US$28 billion, from US$25.34 billion. This took iron ore’s share of basic product exports rose from 40.5% in 2009 to 44.6% last year.
Vale contributes to economic stability
Brazil’s balance of trade recorded a surplus (exports minus imports) of US$20.27 billion in 2010. In recent years, the surplus produced by Vale has contributed significantly to reducing Brazil’s external vulnerability. The US$50 billion of net exports generated by Vale between 2000 and 2009 are equivalent to 25% of the country’s external debt. As a result, Vale makes a fundamental contribution to Brazil’s economic stability.