Within a Decade, Trade Between Brazil and Africa Increases by 416%

On June 6, 2013, Terra reported the Ministry of Development, Industry, and Foreign Trade reveal there has been a significant increase in Brazil’s economic relationship with African countries. Between 2002 and 2012, trade has increased by 416%. African countries have increased their use of Brazilian exports to 5.03% in 2012 compared to 3.91% in 2002. As well, Brazil has begun importing oil from countries such as Angola, Nigeria, and Algeria. The increased trade between Brazil and Africa is due to reduced conflicts, therefore allowing political and economic stability for Brazil to build companies and increase investments in the continent. Read Article