São Paulo – Machinery exports from Brazil dropped 12.1% year-on-year in January, the Brazilian Machinery and Equipment Industry Association (Abimaq) reported this Wednesday (24). Foreign sale revenues amounted to USD 509 million and the association said in a press release that the export-friendly exchange rate is yet to reflect on industry performance. <\/p>\n
Abimaq numbers show that oil and renewable energy machinery exports dropped the most, at 67%. The second-poorest performance was in agricultural machinery, with sales down 43.2%, and the third worst export result was logistics and civil construction machinery, with a 37.3% drop. <\/p>\n
Foreign sales of infrastructure and base industry machinery dropped 23.8%, and capital goods industry components dropped 10.7%. Foreign sales climbed for consumer goods manufacturing machinery, up 366%, and for processing industry machinery, up 54.1%. <\/p>\n
The leading buying region was Latin America, with USD 173.11 million in imports, followed by China at USD 98.7%, Europe at USD 95.6 million and the United States at USD 71.9 million. Barring China, sales to all parts of the world declined. <\/p>\n
The Brazilian capital goods industry also saw net revenues drop in January to BRL 4.1 billion (USD 1 billion), down 35% from January 2015. “The result attests not only to weak domestic investment no período (jan15\/jan16), which was down 55.9%, but also to the lack of dynamism on the foreign market,” Abimaq’s press release reads.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n