São Paulo – Brazilian exports of mechanical capital goods amounted to US$ 6.624 billion in the first half (H1), up 19.8% from H1 2013. According to data released this Wednesday (30th) by the Brazilian Machinery and Equipment Industries Association (Abimaq), the figure is an all-time high for the period.
The organization added that foreign sales accounted for 43.9% of industry revenues in the first six months of 2014, above the historical average of 32%.
In July alone, however, exports were down 5.8% from July last year, to just above US$ 1 billion. In July from May 2014, exports were down 20.7%.
The performance in June was mostly a consequence of lower exports of components for the capital goods industry. In the first half, the Abimaq has informed that foreign sales increased in most sectors, highlighting infrastructure and base industries.
The main targets of Brazilian machinery and equipment exports, according to the organization, are other Latin American countries, the United States and Europe. Imports by Latin American countries, however, have been declining since 2010, whereas Europe and the United States are stepping up their imports from Brazil.
*Translated by Gabriel Pomerancblum
