São Paulo – Exports of mechanical capital goods reached USD 445.78 million in January, down 12.4% from the year-ago period, in line with the trend seen throughout 2016, the Brazilian Machinery and Equipment Industry Association (Abimaq) reported this Wednesday (22).
Abimaq said industry exports were harmed by the fact that Brazil’s real gained on the dollar throughout 2016, and that continues to be the case in 2017. “One of the few ways out of the crisis for the Brazilian industry – exports – ceases to exist,” the association regrets.
Foreign sales went down for consumer goods manufacturing machinery, capital goods industry parts, process industry machinery, and oil and renewable energy machinery.
Exports were up 26% to Latin America, 5% to the United States, but sales to Europe and China declined.
*Translated by Gabriel Pomerancblum
