Brazil takes fourth position in FDI stakes

Brazil’s economic growth is the definitive success story among developing nations and the country is now the fourth largest destination for Foreign Direct Investment among emerging markets. Its a GDP amounted to US$1.8-trillion in 2007. This was the word from Alessandro Teixeira, president of Apex-Brasil, the Brazilian Trade and Investment Promotion Agency, at the recent Brasil Trade Mission to Africa. Teixeira said last year Brazil’s clothing and textiles sector generated a US$43-billion income, a 4% increase over 2007, and benefited from investments totalling US$1.5-bn. “Brazil is currently the world’s sixth largest producer of textiles and apparel. The rich texture of this thriving sector is the result of a complex weave of textiles, woven and knit fabrics, clothing, leather and footwear in an industry that employs 1.7 million direct employees,” he said. “Key among Brazil’s exports in this sector are technical fabrics (26%), fabrics (22%), home textiles (18.4%), clothing (14%) and manufactured fibres (9.3%).”