As a result of changes in the oil industry’s tax regime, oil rigs boosted imports and exports this year and distorted some foreign-trade indicators.
From January to August, purchases of oil platforms from abroad totaled $7.3 billion, compared to only $1 million in the same period of 2017. Without the oil rigs, imports grew 15.8% through August, and not 23% as shown in the overall figures.
On the export side, numbers also reached a record. Oil rigs became the most important item in Brazil's exports of manufactured goods, with sales of $4.08 billion in the year to date until August against $903 million in the same period of 2017.
About Me
- Waldemar Jezler
- For over 30 years, Brazilian-American investment banker Waldemar Jezler has worked in the finance sector. Jezler earned his Bachelor's degree in Civil Engineering from the University of São Paulo in Brazil and then went on to attend Harvard Business School for his MBA. While at Harvard, Jezler was highly involved in extracurricular activities, including a term as President of the Ibero American Club.