São Paulo – Machinery exports from Brazil were up 35% February-on-February according to figures issued this Wednesday (26th) by the Brazilian Machinery and Equipment Manufacturers Association (Abimaq). Manufacturing companies posted a combined US$ 1.04 billion in revenues from exports last month. In the first two months this year, exports were up 41.4% to US$ 2.1 billion.
According to Abimaq, year-to-date exports increased across all machinery categories. Oil and renewable energy equipment exports increased the most, by 239%. Infrastructure and base industry machinery exports were up 80%, and logistics and civil construction machinery exports were up 55%.
Latin America is the leading buying region. Imports by countries in the region amounted to US$ 685 million in the first two months, up 1% from January and February 2013. As per Abimaq figures, the United States are the second target market, at US$ 600 million, up 95.2%, followed by Europe at US$ 495 million, up 67.4%.
Brazilian machinery industry revenues, however, were down 5% February-on-February to R$ 5.4 billion (US$ 2.3 billion). In January and February, the decline was lower at 3.8%. According to Abimaq, revenues were underpinned by the international market, more so than the domestic one. The industry is facing competition from imported products on the domestic front.
Imports, however, also dropped in February, by 10.7% to US$ 2.2 billion. According to Abimaq, the amount is more than double the monthly import figure from six years ago. In January and February, machinery imports were up 0.26%. The rate indicates that imports tend to level out, the Abimaq claims.
*Translated by Gabriel Pomerancblum
