Venezuela; Argentina; Brazil

With $10.2 billion in imports in 1991, Venezuela is the 4th-largest market in the Western Hemisphere after the US, Canada, Mexico, and Brazil. US exports are projected to increase by at least 15% as Venezuela's oil-rich economy expands at a real estimated gross domestic product rate of 5%. US e...

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Bibliographic Details
Published in:Business America 1992-04, Vol.113 (7), p.26
Main Authors: Lindow, Herbert, Mye, Randolph, Farris, Robert L
Format: Article
Language:English
Subjects:
Commercial banks
Consortia
Economic growth
Economic reform
Energy industry
Fixed exchange rates
Foreign investment
GDP
Gross Domestic Product
Industrial production
International finance
International trade
Manycountries
Privatization
Process controls
Public sector
Statistical data
Telecommunications systems
US exports
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Summary:With $10.2 billion in imports in 1991, Venezuela is the 4th-largest market in the Western Hemisphere after the US, Canada, Mexico, and Brazil. US exports are projected to increase by at least 15% as Venezuela's oil-rich economy expands at a real estimated gross domestic product rate of 5%. US exports to Argentina in 1991 increased nearly 74% from a year earlier. This rapid expansion reflected significant market-opening measures by the government of Argentina, significantly positive economic growth (4%) for the first time in 3 years, and substantially reduced inflation. To encourage greater competitiveness and attract foreign investment and technology, the Collor Administration is implementing measures to make it easier to do business in Brazil. President Fernando Collor de Mello has lifted most import barriers, implemented a program to lower import duty rates from an average of about 25% now to 14% by mid-year 1993, simplified import documentation and procedures, and lowered tax rates on remittances of profits abroad.
ISSN:0190-6275