São Paulo – The Brazilian Machinery Builders Association (Abimaq) said this Tuesday (30) that the industry saw BRL 6.75 billion in revenue last June. The amount is down 6.1% from May and 12.1% from June 2018. Abimaq said “recent numbers show a relative slowdown of domestic economic activity.”
Year-to-date in H1, however, revenue was up 3.6% year-on-year to BRL 39.35 billion. Growth was fueled by domestic sales, which were up 10.2% in H1.
Exports, on the other hand, slid by 22.5% year-on-year in June to USD 682 million. H1 exports fetched USD 4.43 billion, down 7.1% year-on-year.
“The international market is also in a slump,” Abimaq reported, adding that the USA-China trade war and the economic crisis in Argentina “help explain the drop in machinery exports during the first half of the year.”
Machinery imports to Brazil amounted to USD 1.5 billion in June, up 20.5% year-on-year. H1 imports hit USD 7.78 billion, up 9.1%.
Translated by Gabriel Pomerancblum
