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.<\/p>\n
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%.<\/p>\n
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%.<\/p>\n
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.<\/p>\n
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.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n