Brazil exports of machinery and associated equipment exceed USD 1 billion

According to a report by the Brazilian Machinery and Equipment Industry Association (Abimaq), machinery and associated equipment exports once again exceeded the $1 billion mark in March 2023. The sector experienced a 16% growth compared to February 2023 and a 24.2% increase from the same month in 2022. Throughout the first quarter of 2022, monthly exports averaged $870 million.

In the second quarter of the year, this figure rose to just over $1 billion. In March, the last month of the first quarter, the machinery sector exceeded expectations, and sales reached $1.25 billion. This result helped sustain an important part of machinery and equipment sales, even in the face of the slowdown in domestic activities.

Data presented for the machinery and equipment industry sector show an accumulated loss of 4.6% in total revenue in the first quarter, despite a (seasonally adjusted) growth of 5.9% in March 2023 compared to February. The report also covered the volume of machinery and equipment used domestically in the country, including locally manufactured and imported products. It revealed a 6.5% increase in March, considering seasonal adjustments, compared to February.

However, machine consumption decreased by 1.4% compared to the same month in 2022, with an overall reduction of 8.0% throughout the quarter. Importantly, in the aforementioned month, imports had a positive contribution (+6.5%), while the devaluation of the national currency against the dollar by 4.9% impacted the value of the results.

Abimaq’s report on the results from February 2023 indicates that export values exceeding $1 billion are becoming more common. In 2022, there were eight months with similar successful sales abroad. This consistent performance reinforces the wave of good luck experienced by the machinery and equipment export sector, comparable only to the results observed in 2012. It is worth noting that this upward trend is not solely reflected in monetary values but also in the quantity of exported goods.

Source: Terra

To read the original news report, visit: https://www.terra.com.br/noticias/exportacoes-de-maquinas-e-equipamentos-superam-us-1-bilhao,260334d8ab3071cc4841f9cb717ffbb9b3pzm0kj.html

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