São Paulo – Brazil’s machinery and equipment industry grossed BRL 7.2 billion (USD 1.9 billion at current exchange rate) in revenues, up 7.7% from a year ago. The numbers were made public this Tuesday (25) by the Brazilian Machinery Builders Association (ABIMAQ).
ABIMAQ notes that the result was driven by the domestic market, which was up 12% in May.
Year-to-date through May, the industry grew by 7.5%. “It is a robust growth, but we are looking at May last year, when we had the truckers’ strike. We are also working with a very negative benchmark. To get an idea, from 2012 to 2015 the market dropped 50%. We are talking 7.5% over 50% less,” said the association president João Carlos Marchesan.
The industry’s trade balance ran a negative balance of USD 812.3 million in May, down 38% from a year ago.
Exports climbed 43.2% year-on-year, reaching USD 740.92 million. Imports grew by 40.5% from a year ago. ABIMAQ points out that the comparison with May last year shows a higher-than-expected growth since it’s a comparison with a low month of last year, when the industry was impacted by the truckers’ strike.
Translated by Guilherme Miranda
