In May, Brazilians spent a whopping US$1.82 billion on imported goods, that’s a 9.7% increase on the same period the previous year according to figures recently released.
Because of this increase in consumption of foreign products Brazil has notched up a trade deficit of almost US$3.5 billion which equates to over 2% of GDP.
It seems that Brazils increasing success is leading to an increasing desire for things none Brazilian which in one sense is surprising considering the high taxes which Brazil adds to imported goods.
It’s said that Brazil has the most expensive ipad in the world. The average price for an Apple device in Brazil is R$2,387.79, or US$1,348. Brazil pays an average of 28 per cent more for Apple products than any other consumer in the world shopping at an Apple Store.
Because so many products are so expensive in Brazil, the shops offer consumers the ability to buy on interest free credit. Unfortunately for those unable to purchase goods in cash the interest free offer is not as interest free as it looks.
Bargaining in shops in Britain is pretty rare, not so in Brasil. Customers able to pay with cash are able to negotiate discounts from 10-15% depending on the product. In actual fact, this discount is simply the ‘interest’ which has been included in the ticket price so that those seeking to pay in ‘parcelas’ feel they are getting a great interest free deal.
If you’re planning on visiting Brazil, stuff your suitcase with electronic goods – you’ll make a fortune.