São Paulo – The Brazilian machinery industry saw exports grow 16.7% in July compared to the same month last year, according to the Brazilian Association of the Machinery and Equipment Industry (ABIMAQ). Sales totaled USD 1.17 billion, also a 12.2% increase from June.
Imports of machinery and equipment also advanced in the period. Compared to July 2022, there was a 15.8% expansion, totaling USD 2.29 billion in purchases from abroad. According to ABIMAQ, recent data indicate a relative loss of competitiveness of the local industry compared to imported goods.
The sector saw a drop in total net sales revenue of 10.5% in July compared to the same month in 2022 and 4.6% compared to June, totaling BRL 23.7 billion (about USD 4.87 billion at the current rate). Abimaq reports a worsening in activities in the domestic machinery and equipment market, with this decline occurring since 2022, according to the association.
Translated by Elúsio Brasileiro
