The Brazilian country invested $28.000 billion abroad in 2006.
Brazil invested $28.000 billion abroad in 2006, making it the twelfth largest international investor and the largest in Latin America, according to a report released today.
For the first time, investments made by Brazil abroad exceeded those received by the country, according to details of the "World Investment Report" (WIR) released today in Sao Paulo by the United Nations Conference on Trade and Development (UNCTAD).
But Brazil's recent progress was mainly due to the purchase of Canadian mining company Inco by the giant Vale do Rio Doce Company for $17.000 billion.
That was the largest investment among 172 deals worth more than $1.000 billion made in 2006.
The data was released at an event at the headquarters of the Brazilian Society for the Study of Transnational Companies and Economic Globalization (Sobeet) in Sao Paulo.
As a destination for foreign investment, Brazil ranked twenty-ninth, with $18.800 billion received, just behind Mexico ($20.000 billion).
Brazil has two companies among the 25 largest non-financial companies in the world, with the state oil company Petrobras in 13th place and Vale do Rio Doce in 18th.
The United States was by far the country that invested the most worldwide, with $217.000 billion, and the one that received the most investment, with $175.000 billion.
According to the report, foreign direct investment in Latin America totaled $43.000 billion in 2006, a 125 percent increase over the previous year.
In total, the region received $84.000 billion in foreign flows, an increase of 11 percent compared to 2005, according to the report.
UNCTAD expects that the pace of foreign direct investment will continue this year, although it warned that it may lose momentum due to global economic trends impacted by the US housing crisis.
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